Monday, October 29, 2018

IBM to Buy Red Hat for $34 Billion

Red Hat, everyone's favorite open source software giant, will soon be under new ownership.

IBM announced on Sunday that it will pay $34 billion to acquire Red Hat and its massive portfolio of OSS. The transaction still needs approval from regulators and shareholders (the latter of whom likely won't mind, as Red Hat's stock prices soared 50 percent after the news broke), but the deal is on pace to close in the second half of 2019.



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