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Biggest Deal: IBM Acquiring Red Hat for $34 USD

IBM to acquire RedHat, the world’s leading provider of open source technology, becoming rank 1 hybrid cloud provider.

Admin

October 29, 2018

This is the biggest software deal that IBM have is going to acquiring Red Hat, a major distributor of open-source software and technology, for 34 billion USD.

The open source, enterprise software maker will become a unit of IBM's Hybrid Cloud division, with Red Hat CEO Jim Whitehurst joining IBM's senior management team and reporting to CEO Ginni Rometty.

Red Hat is a distributor of a particular flavor of Linux, an open-source operating system that is commonly used in server computers that power company data centers.

“The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” IBM chief Ginni Rometty is quoted as saying in a statemen

On deal it is finalized that, IBM will acquire all of the issued and outstanding common shares of Red Hat for $190 per share in cash. The deal is expected to close in the latter half of 2019. IBM said it intends to suspend its share repurchase program in 2020 and 2021.

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