A joint venture is expected to be announced early next week by Cisco Systems (CSCO: 22.85, -0.67, -2.85%), EMC Corp. (EMC: 16.46, -0.45, -2.66%) and VMWare Inc. (VMW: 38.37, -2.62, -6.39%), the Wall Street Journal reported Friday.

The venture will involve a product called “V-Block,” which utilizes EMC storage equipment, Cisco’s networking products and virtual servers and virtualization technology provided by VMWare, the paper said.

The venture’s purpose is to both market V-Block and provide support for the product; the cloud infrastructure will also be constructed collectively by the three companies, the Journal said.

The project will also have its own chief executive, and the venture is expected to be announced on Wednesday, before Cisco reports its first-quarter results, sources told the Journal.

Shares of both Cisco and EMC fell more than 2% on Friday, while shares of VMWare were down 6.25%.