Pivotal just raised $400 million more than anyone thought
Summary
As detailed in a filing that appeared Friday with the U.S. Securities and Exchange Commission, first spotted by Fortune, Pivotal disclosed that it had raised a total of $653 million. As of March 31, EMC controlled 83 percent of the economic interest in Pivotal, according to its most recent quarterly filing with the SEC. VMwares remaining shares trade on the New York Stock Exchange, and their value accounts for a good portion of EMCs $52 billion market capitalization. Eventually, Pivotal is expected to float a minority stake of its shares — about 20 percent — in an IPO that would resemble VMwares 2007 debut. Of course this is all happening against the backdrop the massive takeover of EMC and everything it controls by privately held Dell in a $60 billion-ish superdeal thats expected to close sometime in October.