VMware Buys A Piece Of Terremark

Terremark today said VMWare would buy 4 million shares of newly issued stock at $5 apiece, or $20 million worth of stock in total, to acquire a 5 percent stake in the company.

Miami-based Terremark runs Internet exchanges and offers services such as data storage and operating systems management. Its shares rose 33 cents, or 7.4 percent, to close at $4.80. VMware shares gained 76 cents, or 2.7 percent, to $29.26 in the regular session, and lost 8 cents after hours.

(Source: Forbes)