VMware Buys SpringSource

Palo Alto-based VMware said today that it is buying San Mateo-based SpringSource, a developer of enterprise and web application development tools. VMware said it will pay approximately $362M in cash and equity, plus assume approximately $58M in unvested stock and options for SpringSource. SpringSource is venture backed by Accel Partners and Benchmark Capital, and last announced a funding round in June of 2008 worth $15.0M.