IBM announced Sunday it will acquire software maker Red Hat in a deal valued at $34 billion. The computing giant will pay $190 a share for the North Carolina company, whose market capitalization stood at roughly $20.5 billion before the deal was announced. Red Hat’s open-source enterprise software will move into IBM’s Hybrid Cloud division and the company’s CEO Jim Whitehurst will become part of IBM’s senior management team. The move reflects IBM’s priority to counter Amazon and Microsoft’s growth in the cloud infrastructure business.
Via: CNBC.com
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