Pivotal Software Explained

Pivotal Software, Inc.
Type:Subsidiary
Key People:Paul Maritz

Rob Mee

Bill Cook

Jason Hurst
Industry:Computer software
Fate:Acquired by VMware
Num Employees:2,971 (1Q 2020)
Revenue:US$509.4M[1]
Revenue Year:2017
Net Income:-US$163.5M
Net Income Year:2017
Owner:Michael Dell (70%)
Parent:Broadcom

Pivotal Software, Inc. was an American multinational software and services company based in San Francisco that provided cloud platform hosting and consulting services. Since November 2023, Pivotal has been part of Broadcom.

History

Pivotal Software was formed in 2012 after spinning out of EMC Corporation and VMware (which was majority-owned by EMC).[2] The name came from the Pivotal Labs LLC which had been acquired by EMC, and briefly used the name GoPivotal, Incorporated.[3] On April 24, 2013, the organization announced a investment from General Electric (for 10% equity) and Pivotal One, including Cloud Foundry for cloud computing.[4] [5]

Paul Maritz became Pivotal's chief executive immediately after the spin-out. Maritz had joined EMC in February 2008 when Pi Corporation, a company he co-founded, was acquired and was previously the CEO of VMware.[6] [7] The Greenplum Database (acquired by EMC in 2010) formed the basis of a division selling software for the big data market.[8]

In March 2013, a distribution of Apache Hadoop called Pivotal HD was announced, including a version of the Greenplum software for it called Hawq.[9]

Jason Hurst served as Chief of Staff and VP, Head of Corporate Development for Pivotal, where he was responsible for strategic initiatives and complex projects, including M&A and investments. Mr. Hurst also led M&A at VMware and helped to navigate the process of establishing Pivotal.

Paul Maritz became Pivotal's Chairman and Rob Mee, founder of Pivotal Labs, became chief executive officer of Pivotal Software on August 18, 2015. In May 2016, a round of investment was announced, including Ford investments.[10] EMC also converted of debt into equity at that time.[11] [12]

In March 2018, the company filed for an initial public offering, debuting on the NYSE on April 20, 2018.[13] [14] The trading price began at $15 a share, and closed with a 5% increase on its first day.[15] The company raised $555 million in the IPO.[16]

On August 14, 2019, VMware announced merger discussions with Pivotal, and a definitive agreement to acquire Pivotal Software was signed on August 22, 2019.[17] The merger was completed on December 30, 2019.[18] VMware folded Pivotal into the Tanzu application suite, with the Pivotal Labs consulting group rebranding to become VMware Tanzu Labs in January 2021.[19]

See also

Notes and References

  1. News: Pivotal Software, majority-owned by Dell, files for IPO with over $500 million in revenue last year . Balakrishnan . Anita . March 23, 2018 . . March 29, 2018.
  2. News: VMware plans cloud spin out to keep up with Microsoft, Amazon and Google . Om Malik . Stacey Higginbotham . GigaOM . July 16, 2012 . August 31, 2016 .
  3. Web site: Notice of Exempt Offering of Securities . United States Securities and Exchange Commission . April 15, 2013 . August 31, 2016 .
  4. Web site: GE Joins EMC and VMware in a Joint Venture to Challenge Software Megavendors in the Cloud . https://web.archive.org/web/20130428000533/http://www.gartner.com/newsroom/id/2448415 . dead . April 28, 2013 . April 24, 2013 . Press Release . August 31, 2016 .
  5. News: Pivotal's Audacious Plan . April 24, 2013 . Quentin Hardy . New York Times Bits . August 31, 2016 .
  6. News: EMC To Acquire Pi Corporation, Developer of Personal Information Management Technology . February 21, 2008 . Press release . EMC . October 3, 2013 .
  7. Web site: Executive Team . Company web site . Pivotal . November 18, 2013 . https://web.archive.org/web/20131118010618/http://www.gopivotal.com/team . August 31, 2016 .
  8. Web site: General Electric pours $105 MEEELION into Pivotal Initiative: Skunkworks lab for the industrial internet . Jack Clark . April 24, 2013 . The Register . August 31, 2016 .
  9. Web site: Pivotal ships eponymous Hadoop distro to the masses: An inquisitive HAWQ rides the big data elephant . Timothy Prickett Morgan . The Register . July 17, 2013 . August 31, 2016 .
  10. Web site: Ford lead investment in EMC-owned Pivotal . Recode . Arik Hesselhdahl . May 5, 2016 . August 12, 2016 .
  11. Web site: Pivotal's Funding Picture Just Got a Lot More Interesting: EMC's debt conversion should grease the skids for a Pivotal IPO . May 9, 2016 . Fortune . August 31, 2016 .
  12. Web site: Notice of Exempt Offering of Securities . United States Securities and Exchange Commission . May 6, 2016 . August 31, 2016 .
  13. News: Pivotal Software Files for IPO. Al-Muslim. Aisha. March 23, 2018. The Wall Street Journal. March 29, 2018.
  14. News: Pivotal prices IPO at $15 a share. Owens. Jeremy C.. MarketWatch. 2018-04-20. en-US.
  15. News: Pivotal Software closed up 5% following IPO, raised $555 million. 21 April 2018. TechCrunch. April 20, 2018.
  16. News: Pivotal Software IPO Climbs Nearly 5% In First Day Of Trading. Investor's Business Daily.
  17. Web site: VMware Signs Definitive Agreement to Acquire Pivotal Software. investors.pivotal.io. en-US. 2019-08-23 . https://web.archive.org/web/20190823065509/https://investors.pivotal.io/news/financial-news/press-release-details/2019/VMware-Signs-Definitive-Agreement-to-Acquire-Pivotal-Software/default.aspx . 2019-08-23.
  18. Web site: VMware Completes Acquisition of Pivotal. en-US. Press Release.
  19. Web site: VMware Tanzu Labs: New Name, Even More Transformative Expertise. 2021-01-15. tanzu.vmware.com. en-US.

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