VMware Sells Zimbra
Scratch one asset from the portfolio of VMware . The company announced that it has sold Zimbra, the self-described "enterprise-class email, calendar, and collaboration solution" provider, to privately held IT firm Telligent Systems. The terms of the deal were not disclosed.
The divestment is part of VMware's strategy to streamline its operations. In the press release announcing the news, the company said that it "determined that the collaboration and communication features of Zimbra as a stand-alone product would be best delivered by a partner such as Telligent in order to continue enhancing the Zimbra technology platform and growing the business."
VMware didn't hold Zimbra for very long. It acquired the company for an undisclosed amount in early 2010 from Yahoo!, which in turn bought it from its investors for roughly $350 million in September 2007.
The article VMware Sells Zimbra originally appeared on Fool.com.Fool contributor Eric Volkman owns shares of Yahoo! The Motley Fool recommends and owns shares of VMware. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.