Here's What VMware Paid for Kubernetes Startup Heptio

VMware paid $550 million to acquire Kubernetes startup Heptio -- more than ten times Heptio's total funding -- in a deal that closed last week, as VMware seeks to enhance its multicloud toolkit. VMware Inc. (NYSE: VMW) entered into a definitive agreement to acquire Heptio for cash and assumed unvested equity awards, according to a Securities and Exchange Commission (SEC) filing Monday, Dec. 10. Specifically, VMware plans to use Heptio assets to enhance its existing Pivotal Container Services (PKS) portfolio. PKS is a Kubernetes lifecycle management platform for which VMware partners with Pivotal ; both companies are controlled by Dell Technologies.