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VMware stock shoots up as it makes more deals

The big bounce came on the eve of the fourth annual "VMworld" conference starting today at San Francisco's Moscone Center. More than 10,500 people from companies around the world have registered for the conference that showcases how VMware and its rivals are transforming information technology.

The initials VM signify how its software enables one computer server to run several operating systems, creating "virtual machines" that enhance reliability and efficiencies while reducing costs in hardware and energy.

VMware, a Palo Alto-based subsidiary of data storage giant EMC, made headlines last month with an initial public offering that saw its opening $29 price climb 76 percent to $51 by the end of the first day of trading. It has been Silicon Valley's most successful IPO since Google, and the VMW ticker has continued to soar, closing at $76.76 a share Monday. Its market capitalization Monday surpassed $25.5 billion, placing it second among valley software firms, behind Oracle and ahead of Adobe Systems.

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