Dell’s Pivotal Software has filed for an initial public offering with the US Securities and Exchange Commission.
The cloud outfit provides a platform for software development and wants to raise $100m by floating.
Pivotal was spun out of EMC and VMware in 2013 before the merger in 2016 brought EMC and all of its subsidiaries under Dell’s ownership.
GE, Ford and Microsoft have each made a “major investment” in Pivotal over recent years, according to Pivotal’s website, giving each a stake in the vendor.
Pivotal reported revenues of $259 million in 2018 up 22 per cent on the previous year. However, it is still making a net loss of $163.5 million.
Dell is currently the majority shareholder and will retain its controlling stake after the IPO via its subsidiaries, the filing said.
