IBM Closes Its $34 Billion Acquisition of Red Hat

'IBM closed its $34 billion acquisition of Red Hat, the companies
announced Tuesday. From a report:

The deal was originally announced in October, when the companies said
IBM would buy all shares in Red Hat for $190 each in cash. The
acquisition of Red Hat, an open-source, enterprise software maker,
marks the close of IBM's largest deal ever. It's one of the biggest in
U.S. tech history. Excluding the AOL-Time Warner merger, it follows
the $67 billion deal between Dell and EMC in 2016 and JDS Uniphase's
$41 billion acquisition of optical-component supplier SDL in 2000.
Under the deal, Red Hat will now be a unit of IBM's hybrid cloud
division, according to the original announcement. The companies said
Red Hat's CEO, Jim Whitehurst, would join IBM's senior management team
and report to CEO Ginni Rometty. IBM previously said it hoped its
acquisition of Red Hat will help it do more work in the cloud, one of
its four key growth drivers, which are also social, mobile and
analytics. The company lags behind Amazon and Microsoft in the cloud
infrastructure business. IBM has seen three consecutive quarters of
declining year-over-year revenue. But some analysts are hopeful about
the Red Hat deal's opportunity to bring in new business.'

-- source: https://linux.slashdot.org/story/19/07/09/1740223

Cheers, Peter
-- 
Peter Reutemann
Dept. of Computer Science
University of Waikato, NZ
+64 (7) 858-5174
http://www.cms.waikato.ac.nz/~fracpete/
http://www.data-mining.co.nz/
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