IBM Buys Linux & Open Source Software Distributor Red Hat For $34 Billion

[Oct 29, 2018]

IBM and Red Hat have announced an agreement that IBM has struck a deal to acquire the Linux and open source software distributor for $34 billion in an all-cash transaction of $190/share.

This announcement is the largest software company acquisition to date. Following the acquisition, Red Hat will continue to operate as a distinct unit in IBM’s Hybrid Cloud team.

Since Linux is the preferred operating system when it comes to cloud computing, it makes sense for IBM to join hands with Red Hat and strengthen its enterprise offerings.

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