IBM buys software company Red Hat for US$34b: statement

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IBM buys software company RedHat for US$34b: statement

 

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IBM to acquire software company Red Hat for US$34 billionIBM Corp is nearing deal to acquire software company Red Hat Inc in a deal that could exceed US$30 billion and allow it to expand its cyber ...
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Red Hat jumps, IBM shares dip on cloud mega-mergerIBM Corp's US$34 billion deal to buy Red Hat Inc drove shares in the small but fast-growing software maker 50 percent higher on Monday, ...
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IBM to acquire software company Red Hat for US$34 billionIBM Corp said on Sunday it had agreed to acquire US software company Red Hat Inc for $34 billion (S$46.9 billion), including debt, as it seeks to diversify its technology hardware and consulting business into higher-margin products and services. The transaction is by far IBM's biggest acquisition. It underscores IBM Chief Executive Ginni Rometty's efforts to expand the company's subscription-based software offerings, as it faces slowing software sales and waning demand for mainframe servers.
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