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SAN FRANCISCO (AP) - Intel Corp., the world's largest chip maker, will invest $218.5 million in virtualization software maker VMware Inc., the companies announced Monday.
The investment will give Intel ownership of about 2.5 percent of VMware's outstanding shares after VMware completes its initial public offering. An Intel executive also will join VMware's board of directors.
The deal underscores the growing importance of so-called virtualization software, which allows companies to run more than one operating system on individual computers, in turn boosting the productivity of those machines and cutting overhead costs.
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