Pivotal Software

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Pivotal Software, Inc.
Public
Traded asNYSEPVTL (Class A)
IndustryComputer software
FoundedApril 2013 (2013-04)
Headquarters
Key people
Paul Maritz
(Chairman)
Rob Mee
(CEO)
Bill Cook
(President)
RevenueUS$509.4M[1] (2017)
-US$163.5M (2017)
OwnerDell Technologies (70%)
Number of employees
2,971 (1Q 2020)
Websitepivotal.io

Pivotal Software, Inc. is an American multinational software and services company based in San Francisco and Palo Alto, California and spread across a number of locations globally, including New York, London and Singapore.[2] Pivotal provides cloud platform hosting, business transformation services, enterprise application design environments, containers, microservices, and consulting services for in-house programming teams focusing on agile software development methodologies.[3] Divisions include Pivotal Labs (consulting services), Pivotal Cloud Foundry, and a group developing big data products.

In September 2018, Pivotal announced the launch of a new humanitarian programme known as Pivotal Act, aimed at partnering with NGOs and other charitable organisations to develop practical solutions to social and humanitarian issues globally.[4]

History[edit]

Pivotal office in Toronto

Pivotal Software was formed in 2012 after spinning out of EMC Corporation and VMware (which was majority-owned by EMC).[5] The name came from the Pivotal Labs LLC which had been acquired by EMC, and briefly used the name GoPivotal, Incorporated.[6] On April 24, 2013, the organization announced a US$105 million investment from General Electric (for 10% equity) and Pivotal One, including Cloud Foundry for cloud computing.[7][8]

Paul Maritz became Pivotal's chief executive immediately after the spin-out.[8] Maritz had joined EMC in February 2008 when Pi Corporation, a company he co-founded, was acquired and was previously the CEO of VMware.[9][10] The Greenplum Database (acquired by EMC in 2010) formed the basis of a division selling software for the big data market.[11] In March, 2013, a distribution of Apache Hadoop called Pivotal HD was announced, including a version of the Greenplum software for it called Hawq.[12]

Paul Maritz became Pivotal's Chairman and Rob Mee, founder of Pivotal Labs, became chief executive officer of Pivotal Software on August 18, 2015. In May, 2016, a US$253 million round of investment was announced, including Ford investments.[13] EMC also converted US$400 million of debt into equity at that time.[14][15]

In March 2018, the company filed for an initial public offering, debuting on the NYSE on April 20, 2018.[16][17] The trading price began at $15 a share, and closed with a 5% increase on its first day.[18] The company plans to raise $555 million in the IPO.[19]

On August 14, 2019 VMware announced merger discussions with Pivotal and a definitive agreement to acquire Pivotal Software was signed on August 22, 2019.[20]

See also[edit]

References[edit]

  1. ^ Balakrishnan, Anita (March 23, 2018). "Pivotal Software, majority-owned by Dell, files for IPO with over $500 million in revenue last year". CNBC. Retrieved March 29, 2018.
  2. ^ Software, Pivotal (2017-01-17). "Locations". pivotal.io. Retrieved 2019-08-12.
  3. ^ Software, Pivotal (2017-01-17). "About Us". pivotal.io. Retrieved 2019-08-12.
  4. ^ "Announcing Pivotal Act, A Program to Help the Humanitarian Sector Build Technology". content.pivotal.io. Retrieved 2019-08-12.
  5. ^ Om Malik and Stacey Higginbotham (July 16, 2012). "VMware plans cloud spin out to keep up with Microsoft, Amazon and Google". GigaOM. Retrieved August 31, 2016.CS1 maint: uses authors parameter (link)
  6. ^ "Notice of Exempt Offering of Securities". United States Securities and Exchange Commission. April 15, 2013. Retrieved August 31, 2016.
  7. ^ "GE Joins EMC and VMware in a Joint Venture to Challenge Software Megavendors in the Cloud". Press Release. April 24, 2013. Retrieved August 31, 2016.
  8. ^ a b Quentin Hardy (April 24, 2013). "Pivotal's Audacious Plan". New York Times Bits. Retrieved August 31, 2016.
  9. ^ "EMC To Acquire Pi Corporation, Developer of Personal Information Management Technology". Press release. EMC. February 21, 2008. Retrieved October 3, 2013.
  10. ^ "Executive Team". Company web site. Pivotal. Archived from the original on November 18, 2013. Retrieved August 31, 2016.
  11. ^ Jack Clark (April 24, 2013). "General Electric pours $105 MEEELION into Pivotal Initiative: Skunkworks lab for the industrial internet". The Register. Retrieved August 31, 2016.
  12. ^ Timothy Prickett Morgan (July 17, 2013). "Pivotal ships eponymous Hadoop distro to the masses: An inquisitive HAWQ rides the big data elephant". The Register. Retrieved August 31, 2016.
  13. ^ Arik Hesselhdahl (May 5, 2016). "Ford lead US$253 million investment in EMC-owned Pivotal". Recode. Retrieved August 12, 2016.
  14. ^ "Pivotal's Funding Picture Just Got a Lot More Interesting: EMC's debt conversion should grease the skids for a Pivotal IPO". Fortune. May 9, 2016. Retrieved August 31, 2016.
  15. ^ "Notice of Exempt Offering of Securities". United States Securities and Exchange Commission. May 6, 2016. Retrieved August 31, 2016.
  16. ^ Al-Muslim, Aisha (March 23, 2018). "Pivotal Software Files for IPO". The Wall Street Journal. Retrieved March 29, 2018.
  17. ^ Owens, Jeremy C. "Pivotal prices IPO at $15 a share". MarketWatch. Retrieved 2018-04-20.
  18. ^ "Pivotal Software closed up 5% following IPO, raised $555 million". TechCrunch. April 20, 2018. Retrieved 21 April 2018.
  19. ^ "Pivotal Software IPO Climbs Nearly 5% In First Day Of Trading". Investor's Business Daily.
  20. ^ "VMware Signs Definitive Agreement to Acquire Pivotal Software". investors.pivotal.io. Retrieved 2019-08-23.