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IBM is Buying Red Hat for $34 Billion   

IBM and Red Hat have inked the deal. IBM is acquiring Red Hat for approximately $34 billion in order to become the number one hybrid cloud provider in the world.

If you think open source projects doesn't make money, it's time to think again. A few months back Microsoft bought GitHub for $7.5 billion. SUSE Enterprise Linux was sold for $2.5 billion. Today IBM announced that it is buying Red Hat for approximately $34 billion.

Red Hat, the first billion dollar open source company is one of the strongest players in the containers and the cloud game. IBM has been lagging behind the likes of Microsoft and Google in the trillion dollar cloud market. So to strengthen their position in this field, IBM is acquiring Red Hat.

IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, which is approximately $34 billion. 

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Published on October 29, 2018 by Paul Illingworth


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