Software company VMware to acquire Pivotal and Carbon Black

Software company VMware has agreed to acquired Pivotal and Carbon Black, valued at $2.7 billion and $2.1 billion respectively.

Why it matters: These are VMware's largest acquisitions to date, which the company says will bolster its product offerings and revenue, per CNBC. VMware's stock price dropped nearly 4% in after-hours trading.

Editor's note: This story's headline has been corrected to show the correct name for Carbon Black.