VMware Inc. on Jan. 23 announced plans to acquire Atlanta-based mobile device security and management firm AirWatch Inc. for $1.54 billion.
Privately held AirWatch has 10,000 customers and nine offices around the world. It has consistently made headlines and won awards for its breakneck growth over the past few years, with many believing it was just a matter of time before the company went public or became an acquisition target.
VMware, a Silicon Valley-based cloud software firm with $4.61 billion in annual revenues, saw AirWatch as rounding out its mobile offerings.
The deal is expected to close by the end of this quarter, with both boards of directors having already approved it. VMware will pay $1.175 billion in cash and the remaining $365 million in installments.
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