IBM acquires Red Hat for $34 billion
IBM and Red Hat announced that they have reached an agreement with which IBM will acquire all Red Hat’s shares, whose value closed last Friday at $116.68, for $190 per share paid in cash for a total value of about $34 billions. Red Hat will become part of IBM’s Hybrid Cloud division while its CEO Jim Whitehurst will join IBM’s senior management reporting to CEO Ginni Rometty. This acquisition is oriented above all to make IBM a giant in the field of cloud services.




