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EMC Buying Most Of Cisco Stake In VCE Joint Venture

EMC Corp., a maker of data storage products, is acquiring a majority Cisco Systems’ stake in their joint venture for VCE. EMC is buying that stake for an undisclosed amount. VCE, bundles Cisco’s networking equipment and servers with EMC’s storage gear and software from EMC’s virtualization software unit VMware Inc. Cisco currently owns a 35% stake in VCE and will retain 10% after the deal is complete. Daniel Ives, a FBR Capital Markets analysts said, “We view the Cisco/VCE new as a ‘yawner’ given that EMC right now is facing a plethora of growth and strategic challenges and the last thing on investors’ minds is the future of VCE.”