IBM agreed to buy software maker Red Hat for $33.4 billion in a bid to catch up in the cloud computing industry.
IBM will pay $190 a share in cash for Red Hat, according to a statement confirming an earlier Bloomberg News report. That’s a 63 percent premium over Red Hat’s closing price of $116.68 per share on Friday.
“The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” said Ginni Rometty, IBM’s chairman and chief executive officer, in the statement.
Red Hat Enterprise Linux (RHEL) is one of the most popular operating systems for running public, private and hybrid cloud workloads.
Duncan is a technology professional with over 20 years experience of working in various IT roles. He has a interest in cyber security, and has a wide range of other skills in radio, electronics and telecommunications.
Duncan is a technology professional with over 20 years experience of working in various IT roles. He has a interest in cyber security, and has a wide range of other skills in radio, electronics and telecommunications.