IBM to acquire Red Hat in $34B blockbuster deal
Big Blue takes aim at expanding hybrid cloud market
IBM has unveiled plans to acquire open source specialists Red Hat, in a blockbuster US$34 billion deal designed to bolster the tech giant’s hybrid cloud capabilities.
Terms of the deal – unveiled following a weekend of media speculation – will see Big Blue acquire all of the issued and outstanding common shares of Red Hat for US$190.00 per share in cash, in an agreement expected to be finalized in the second half of 2019.