Acquisition of IBM and Red Hat

IBM to acquire Red Hat, completely changing the cloud landscape and becoming Worlds #1 hybrid Cloud provider

Most significant tech acquisition of 2018 will unlock true value of cloud for business.

IBM (NYSE:IBM) and Red Hat (NYSE:RHT), the world’s leading provider of open source cloud software, announced today that the companies have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.

"Joining forces with IBM will provide us with a greater level of scale, resources and capabilities to accelerate the impact of open source as the basis for digital transformation and bring Red Hat to an even wider audience – all while preserving our unique culture and unwavering commitment to open source innovation," as said Jim Whitehurst, president and CEO, Red Hat.

More info available here.