The transaction is expected to decrease EMC's earnings per share in the first quarter of 2004 by 1 cent per share. It is not expected to impact the full year's earnings, but is projected to increase the company EPS by 1 cent a share in fiscal year 2005.
EMC plans to operate VMware as an EMC subsidiary, headquartered in Palo Alto and led by Diane Greene, VMware's current president and chief executive.
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