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VMware, Inc. is a subsidiary of Dell Technologies, that provides cloud and virtualization software and services, and claims to be the first to successfully virtualize the x86 architecture commercially. Founded in 1998, VMware is based in Palo Alto, California. In 2004, it was acquired by and became a subsidiary of EMC Corporation, then on August 14, 2007, EMC sold 15% of the company in a New York Stock Exchange IPO. The company trades under the symbol VMW. VMwares desktop software runs on Microsoft Windows, Linux, and Mac OS X, while its enterprise software hypervisors for servers, VMware ESX and VMware ESXi, are bare-metal hypervisors that run directly on server hardware without requiring an additional underlying operating system. In anticipation of Dells acquisition of parent company EMC, VMWare announced a restructuring in January 2016 to reduce about 800 positions, and some executives resigned. There were doubts about the companys future and its product lines, particularly for the desktop. In August 2016, announcing the release of new desktop products, the company said "we’re very much alive and well".