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News Summary: maker VMware buys Nicira for $1.26B

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News Summary: maker VMware buys Nicira for $1.26B
Submitted by Fox First at Ten on July 23rd

By The Associated Press

THE DEAL: Business software maker VMware is buying computer networking specialist Nicira for nearly $1.3 billion.

WHAT IT WILL DO: The deal will expand VMware's product line in the rapidly growing field of computer "virtualization" - software that lowers the costs of running data centers by enabling a single computer to function like multiple machines.

OTHER NEWS: VMware also reported a 13 percent decline in its second-quarter earnings, but the performance still topped analysts' estimates.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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