San Francisco: The 108-year old IBM on Tuesday announced it has closed the acquisition of Red Hat, the world’s leading provider of enterprise open source software solutions — a landmark move that positions IBM as the leading Hybrid Cloud provider and extend Red Hat’s open source innovation to a broader range of clients. IBM has acquired all of the issued and outstanding common shares of Red Hat for $190 per share in cash, representing a total equity value of approximately $34 billion.
The acquisition redefines the cloud market for business were Red Hat’s open hybrid cloud technologies are paired with IBM’s innovation and industry expertise, and sales leadership in more than 175 countries. “Businesses are starting the next chapter of their digital reinventions, modernizing infrastructure and moving mission-critical workloads across private clouds and multiple clouds from multiple vendors,” said Ginni Rometty, IBM Chairman.
