IBM to Acquire Red Hat in Huge Tech Deal

Oct 28, 2018 - 23:15

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IBM () and Red Hat () jointly announced today that IBM would be acquiring Red Hat in a deal valuing the company at $190 per share, representing a staggering almost 63% premium on Red Hat's closing price Friday. This puts the enterprise linux distributor at a valuation of approximately $34 billion dollars making it one of the largest technology acquisitions in history. Virginia "Ginni" Rometty, the IBM Chair, President and CEO said: The acquisition of Red Hat is a game changer. It changes everything about the cloud market. IBM will become the world's #1 hybrid cloud provider, offering companies the […]

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