Virtustream

Virtustream is a provider of cloud computing management software, infrastructure as a service ("IaaS") and managed services to enterprises, governments and service providers.[1] It is a subsidiary of Dell Technologies.

Virtustream Inc.
TypeSubsidiary
IndustryCloud computing
Founded2009
FounderRodney Rogers
Kevin Reid
Headquarters8444 Westpark Drive
Suite 900
McLean, Virginia 22012
Area served
Worldwide
Key people
  • Todd Pavone, President
  • Chris Ewart, Chief Financial Officer
  • Drew Fassett, SVP, Global Sales
  • Joy Corso, SVP Chief Marketing Officer
ProductsInfrastructure as a service
ParentDell Technologies
Websitewww.virtustream.com

Virtustream is headquartered in McLean, Virginia, with offices in Atlanta, Bangalore, Dallas, Frankfurt, Kaunas, London, San Francisco, Santa Fe, Sydney, Tokyo, and Washington D.C.[2] Virtustream's global infrastructure includes data centers located in Frankfurt, Japan, London, Paris, San Francisco, Seoul, Sydney, Las Vegas, Washington D.C., Chicago, and Virginia.[3]

History

Virtustream was founded in 2009. The company raised approximately $40 million in series A funding from Columbia Capital, Blue Lagoon Capital, Intel Capital, Noro-Moseley Partners and TDF Ventures between September 2009 and May 2010, and $15 million in series B funding in July 2011 from Intel Capital, Columbia Capital, Noro-Moseley Partners, QuestMark Capital and TDF Ventures.[4][5]

On May 26, 2015, EMC Corporation announced an agreement to acquire Virtustream and the deal was completed on July 9, 2015. Following Virtustream’s acquisition by EMC,[6] on October 12, 2015, Dell Inc. announced it would acquire EMC[7] in a cash-and-stock deal valued at $67 billion—the largest-ever acquisition in the technology industry. The merger closed on September 7, 2016, with EMC being renamed to Dell EMC as a result, and eventually renamed as Dell Technologies.[8] Dell Technologies became the world’s largest privately controlled tech company at the time.

On October 12, 2015, Fortune reported,[9] “Overall, the deal values EMC around 27% higher than where it was trading before news of Dell’s interest first broke last week. It would be the second-largest tech merger ever, behind only the $106 billion tie-up between AOL and Time Warner in 2000, and the largest-ever take-private transaction for a tech company.”

On May 7, 2018, it was announced that Virtustream's founders, Rodney J. Rogers and Kevin Reid, had decided to leave the company.[10] Rory Read became the president of Virtustream, while retaining his position as Chief Operating Executive of Dell Technologies. Deepak Patil, formerly of Microsoft Azure, became the senior vice president of Product and Technology. In August 2019, Patil left Virtustream to lead Dell's cloud business.[11] In June 2020, Read left Virtustream to become CEO of Vonage.[12] Todd Pavone, who had been president of Dell EMC’s Global Consulting business, was named to succeed Read as Virtustream's president.[13]

See also

References
  1. Gardner, Dana. "Virtustream delivers cloud software to run private, public and hybrid enterprise-class clouds". ZDnet.
  2. "Virtustream Company Profile". Retrieved 2 February 2019.
  3. "Virtustream Global Infrastructure". Retrieved 4 June 2018.
  4. "Venture Capital Update - Virtustream".
  5. Harris, Derrick. "Already awash in cloud cash, Virtustream raises $15M more". GigaOm. Retrieved 31 December 2012.
  6. Clark, Don (26 May 2015). "EMC to Acquire Virtustream for $1.2 Billion". WSJ.
  7. Womack, Brian; Bass, Dina (12 October 2015). "Dell to Buy EMC in Deal Worth About $67 Billion". Bloomberg.
  8. Condon, Stephanie (2 May 2017). "Michael Dell reveals new name for Dell-EMC". ZDNet.
  9. Primack, Dan; Darrow, Barb (12 October 2015). "Dell and EMC make their mega-merger official". Fortune.
  10. Haranas, Mark (7 May 2018). "Virtustream's CEO And President Are Stepping Down, Rory Read To Take Leadership Role". CRN.
  11. Haranas, Mark (October 22, 2019). "Microsoft Azure Founder Deepak Patil To Lead Dell's Cloud Business". CRN.
  12. "Vonage Appoints Rory Read Chief Executive Officer" (Press release). June 8, 2020. Retrieved June 8, 2020 – via prnewswire.com.
  13. Haranas, Mark (June 9, 2020). "Dell And Virtustream Leader Rory Read Is Vonage's New CEO". CRN. Retrieved June 9, 2020.
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