Article Trunk

IBM to acquire open source company Red Hat for a whopping $34 billion

10.29.2018 · Posted in Technology Articles

$34 billion. 

That's how much IBM has offered to pay, in cash, to acquire the open source software company Red Hat. 

Red Hat gives away its core product — the Red Hat Linux distribution — for free, but it makes money on support and cloud computing. And the latter is where IBM's focus is at.

“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," said IBM Chairman, President and CEO Ginni Rometty. 

Today is a banner day for #opensource. Red Hat will be combining forces with @IBM in the largest software transaction in history and it’s an open source company. Read Paul Cormier's thoughts:

— Red Hat, Inc. (@RedHat) October 28, 2018

More about Acquisition, Ibm, Red Hat, Tech, and Big Tech Companies

Leave a Reply

You must be logged in to post a comment.