IBM To Acquire Red Hat, Completely Changing The Cloud Landscape And Becoming World's #1 Hybrid Cloud Provider

IBM acquires Red Hat! Itoyj Tech - Everything TECHnology Earlier this year, Microsoft acquired popular code repository hosting service GitHub for $7.5 billion, and now IBM has just announced the biggest open-source business deal ever. IBM today confirmed that it would be acquiring open source Linux firm Red Hat for $190 per share in cash, working out to a total value of approximately $34 billion. According to IBM, the deal between IBM and Red Hat has already been approved by both of the companies' boards of directors, but it is still subject to Red Hat shareholder and regulatory approvals. If all goes as planned, the acquisition deal is expected to close in the second half of 2019. "The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," Ginni Rometty, IBM Chairman, President, and Chief Executive Officer said in a statement. "IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses." "Importantly, Red Hat is still Red Hat. When the transaction closes, as I noted above, we will be a distinct unit within IBM, and I will report directly to IBM CEO Ginni Rometty. Our unwavering commitment to open source innovation remains unchanged," said James M. Whitehurst, CEO at Red Hat. https://ibm.co/2SrWgrG https://ibm.co/2SrWgrG

- Most significant tech acquisition of 2018 will unlock true value of cloud for business - IBM and Red Hat to provide open approach to cloud, featuring unprecedented security and portability...

from https://newsroom.ibm.com/2018-10-28-IBM-To-Acquire-Red-Hat-Completely-Changing-The-Cloud-Landscape-And-Becoming-Worlds-1-Hybrid-Cloud-Provider in Darshan Bhambiru