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VMware buying Virsto Software

PALO ALTO, Calif. (AP) -- Cloud software company VMware Inc. said Monday that it is acquiring Sunnyvale, Calif.-based Virsto Software for an undisclosed price.

The deal will help VMware speed up its development of storage technologies. Virsto makes software to help customers with storage performance and utilization in virtual environments. Customers turn to these software companies for help managing the complexity and cost of storage and other computing tasks.

VMware, based in Palo Alto, Calif., said the acquisition is scheduled to close in the first quarter.

Shares of VMware fell $2.15 to close the day at $77.04 but gained 11 cents in after-hours trading following the news.