Virtualization and cloud infrastructure firm VMware, Inc. (NYSE: VMW) said its board has authorized the purchase of up to $550 million of its Class A common stock through the end of 2012.

The company expects the equity purchase program to help partially offset dilution from its equity programs.

VMware added its current $400 million stock repurchase program, originally announced March 2, 2010, is anticipated to be completed in March 2011.