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IBM buys Red Hat for USD 34 bln

2018-10-29 08:25:00| Telecompaper Headlines

(Telecompaper) Open source software provider Red Hat has accepted a takeover bid from IBM worth about USD 34 billion in cash, or USD 190.0 per share. IBM CEO Ginni Rometty called the deal a "game-changer," transforming the company into the world's number one hybrid cloud provider. Rommetty said that with Red Hat, IBM will be able to provide a full value open cloud service to help companies continue their move to the a hybrid multi-cloud, with expertise in key technologies such as Linux, containers, Kubernetes, multi-cloud and cloud management, and automation. IBM has been working with Red Hat for 20 years.

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