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VMware has announced it has bought software companies Pivotal and Carbon Black in two deals valued at $4.8 billion as it seeks to broaden its enterprise services portfolio.

After the announcement, Pivotal shares rose 9 percent in extended trading, while those of Carbon Black were up nearly 6 percent. VMware shares fell 7 percent and Dell shares shed 3 percent.

While Pivotal has previously boasted that the majority of Fortune 500 companies use its services, including American and Southwest and Boeing, the company has laboured since its IPO in April 2018 and reported $31.7 million losses in its last financial quarter.