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EMC Corporation (NYSE:EMC): VMware (NYSE:VMW) has promised to increase its annual revenue growth by up to 20 percent in coming years, which would raise its shares by 7 percent on Wednesday morning. The company is now 80 percent owned by EMC Corp, and at a presentation at an investor meeting on Wednesday the two companies outlined their plans to set up Pivotal, a venture that will be majority-owned by EMC. According to VMware, that the creation of Pivotal, which combines of both companies’ data analytics and cloud application assets, would boost VMware’s operating margins during the year. It added that revenue growth would rise to about 15 to 20 percent in 2014 to 2016 versus its expectation for a growth rate of 11.2 to 13.8 percent for the year.
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