Today VMWare has announced the acquisition of SpringSource, a provider of Web application development and management services. The deal closed at a $420 million valuation, with $362 million in cash and equity plus an assumption of approximately $58 million in unvested stocks and options.
SpringSource is a notable proponent of “lean software,” a concept that is gaining traction in the enterprise space as a means of accelerating the delivery of business applications in the cloud. With the acquisition, VMWare and SpringSource will partner with goals of delivering a platform that allows clients to “more efficiently build, run and manage applications in both internal and external cloud architectures.”
