EMC aims to make Pivotal initiative a public company

March 13 Wed Mar 13, 2013 9:07am EDT

March 13 (Reuters) - Data storage equipment maker EMC Corp plans to create a new company called Pivotal that would be 69 percent owned by EMC and 31 percent owned by its publicly traded affiliate VMware Inc, according to EMC Chief Executive Joe Tucci.

Tucci also said at an investor meeting that his plan would be to eventually take Pivotal public and to create its own equity so that it could attract some strategic investors.

In December EMC and software maker VMWare had said they planned in the second quarter to merge their data analytics and cloud application assets into what it called the Pivotal initiative.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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