Moody's affirms VMware's Baa2 rating; outlook stable
Rating Action: Moody's affirms VMware's Baa2 rating; outlook stable. Global Credit Research- 23 Aug 2019. New York, August 23, 2019-- Moody's Investors Service affirmed VMware, Inc.' s Baa2 senior unsecured rating following the company's announcement that it plans to acquire Pivotal Software, Inc., for cash and stock consideration representing an enterprise value of $2.7 billion, and Carbon Black, Inc., for cash consideration of $2.1 billion.VMware is engaged in the development and application of technologies with x86 server-based computing, separating application software from the underlying hardware. The company's product and service solutions are organized into three main product groups: Software-Defined Data Center, which is designed to transform the data center into an on-demand service that addresses application requirements; Hybrid Cloud Computing, which is comprised of VMware Cloud Provider Program and VMware Cloud Services; and End-User Computing solution, which consists of VMware Workspace ONE, its digital workspace platform, that includes Unified Endpoint Management and VMware Horizon application and desktop virtualization.
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