IBM: takes over Red Hat

(CercleFinance.com) - IBM announced on Sunday that it has signed an agreement with Red Hat, by which the IT giant will acquire this Open Source software publisher at a price of 190 dollars per share, representing a total enterprise value of about 34 billion dollars.


This move accelerates IBM's business model, making it the world's leading hybrid cloud provider in a 1 trillion dollar emerging growth market, said the group based in Armonk, State of New York.

IBM intends to finance the deal through a combination of cash and debt. Submitted to vote by Red Hat shareholders, regulatory approvals and other customary conditions, the deal is expected to close in the second half of 2019.



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