$34B Red Hat Acquisition Is a Bolt Out of Big Blue

The cloud computing landscape presents may look much different to enterprise users following the announcement earlier this week of IBM’s agreement to acquire Red Hat. IBM plans to purchase Red Hat, a major provider of open source cloud software, for $34 billion. IBM will acquire all of the issued and outstanding common shares of Red Hat for $190 per share in cash, under terms of the deal. That stock purchase represents a total enterprise value of approximately $34 billion. Red Hat will join IBM’s Hybrid Cloud team as a distinct unit.

Source: LinuxInsider