EMC (EMC +1.1%) and VMware's (VMW +5.6%) Pivotal Initiative will be taken public, EMC CEO Joe...

|By:, SA News Editor

EMC (EMC +1.1%) and VMware's (VMW +5.6%) Pivotal Initiative will be taken public, EMC CEO Joe Tucci discloses during the companies' investor day (webcast). EMC will own 69% of the spinoff, and VMware 31%. Pivotal is headlined by EMC's Greenplum analytics database/hardware unit, but also features a slew of other product lines aimed at companies working on big data projects or developing Web/cloud apps. Given the hype surrounding Pivotal's addressable markets, the post-IPO valuation could be huge.