Accordingly the 108 year old IBM on Tuesday announced it has closed the acquisition of Red Hat, the world's leading provider of enterprise open source software solutions a landmark move that positions IBM as the leading Hybrid Cloud provider and extend Red Hat's open source innovation to a broader range of clients.
Meanwhile IBM has acquired all of the issued and outstanding common shares of Red Hat for $190 per share in cash, representing a total equity value of approximately $34 billion. Furthermore the acquisition redefines the cloud market for business was Red Hat's open hybrid cloud technologies are paired with IBM's innovation and industry expertise, and sales leadership in more than 175 countries.
and Red Hat will accelerate innovation by offering a next-generation hybrid
multi-cloud platform. Moreover based on open source
technologies, such as Linux and Kubernetes, the platform will allow businesses
to securely deploy, run and manage data and applications on-premises and on
private and multiple public clouds. Perhaps Red Hat will continue to be
led by Whitehurst and its current management team.