EMC to buy Virtustream for $1.2 bln

EMC Corp. said Tuesday it has agreed to buy Virtustream for $1.2 billion. The boards of both EMC and Virtustream have approved the deal. Washington D.C.-based Virtustream provides cloud software and services to enterprise customers. Virtustream has raised funding from investors including SAP, Intel Capital, Noro-Moseley Partners, TDFunds, Columbia Capital and Blue Lagoon Capital.

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