SAN FRANCISCOVirtualization software provider VMware Inc. plans to acquire privately held software vendor SpringSource Inc. in a deal valued at about $420 million, the company said Monday (Aug. 10).
VMware (Palo Alto, Calif.) said it signed a definitive agreement to acquire SpringSource, a provider of enterprise and web application development and management. Under the terms of the agreement, VMware will acquire SpringSource for approximately $362 million in cash and equity plus the assumption of approximately $58 million of unvested stock and options, VMware said.
The acquisition has been approved by SpringSource's stockholders and is expected to close in the third quarter, according to VMware.
VMware and SpringSource plan to deliver new solutions that enable companies to more efficiently build, run and manage applications within both internal and external cloud architectures, VMware said.
VMware said SpringSource is the driving force behind some of the most popular and fastest growing open source developer communities, application frameworks, runtimes, and management tools. VMware said it plans to continue to support the principles that have made SpringSource solutions popularthe interoperability of SpringSource software with a wide variety of middleware software, and the open source model that is important to the developer community.