On August 14, 2019, Pivotal confirmed that through a Special Committee of its Board of Directors, we are in discussions with VMware regarding a potential business combination, and we are proceeding to negotiate definitive agreements with regards to a transaction in which VMware would acquire all of the outstanding shares of Class A common stock of Pivotal for cash at a per share price equal to $15.00. However, a definitive agreement between Pivotal and VMware has not been executed. There can be no assurances that a definitive agreement will be executed between the parties. The foregoing information is being provided solely to acknowledge the public announcement on Schedule 13D/A filed by Dell Technologies Inc., Pivotal’s and VMware’s controlling stockholder. Pivotal does not intend to provide any further information as to developments, if any, in its discussions with VMware regarding a business combination unless and until a definitive agreement is executed.

The way the future gets built.


Company Profile

Pivotal combines platform, tools, and methodology to help the world’s largest companies adapt to change and deliver exceptional user experiences. Our technology is used by millions of developers. Fortune 500 companies build and run their most important applications on our cloud platform.

Cloud-Native Software Platform & Strategic Services

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Subscription Software Model
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$50Bn+ Market Opportunity1
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Rapid Enterprise Adoption Across Verticals
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Solid Revenue Growth at Scale2
1. We believe our cloud-native platform opportunity is the aggregate of two markets, with spending today estimated at over $50 billion. Independent industry publications related to our addressable market are included in:
  • a) Forecast Analysis: Public Cloud Services, Worldwide, 2015-2021, 4Q17 Update, Gartner, January 2018; and,
  • b) Forecast Analysis: Enterprise Software Markets, Worldwide, 2014-2021, 4Q17 Update, Gartner, December 2017.
2. Subscription revenue run-rate of approximately $300 million is calculated from Q4 FY18 subscription revenue ($75 million) multiplied by four.

Key Metrics

383

Subscription Customers

143 %

$-Based Net Expansion

$50+ billion

Total Addressable Market

135 ISVs

Integrated with PCF

43%

Subscription Revenue Growth

$129 million

Subscription Revenue

The foregoing financial data is as of 1Q20 ended May 3, 2019. Revenue growth percentage is compared to the year ago period.

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