.

Under the deal, IBM will acquire all of the issued and outstanding common shares of Red Hat for $190 per share in cash.

“The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” said IBM CEO Ginni Rometty. “IBM will become the world’s #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses.”

Red Hat, which has a market capitalization of $20.5 billion, is based in Raleigh, North Carolina, and specializes in open-source software, particularly Linux. The company has partnered with IBM for 20 years, supporting the operating system in its early stages and more recently to bring hybrid cloud solutions to customers.
.
READ MORE  HERE  AT FoxBusiness.com