• email inquiry@market.us
  • phone+1 718 618 4351 (International)
  • phone+91 78878 22626 (Asia)
menu logo logo
more_vert
  • About Us
  • Contact Us
  • Our Team
  • Privacy Policy
July 11, 2019

Home / IBM Successfully Acquired Red Hat For $34 Billion

IBM Successfully Acquired Red Hat For $34 Billion

Anurag Sharma

Last updated on:July 11, 2019 Market.us

The giant tech company IBM had recently shocked everyone when it managed to acquire software-based company Red Hat. Recently reports have been shared by the IBM which shows that Red Hat got acquired by IBM for a whopping amount of $34 Billion. Red Hat is an open source software maker company which is famous in the industry for a long time.

Now IBM has finally acquired it, and this trade deal has been one of the costliest contracts which IBM has ever executed. The reports of mergers between these two companies shared officially in October, but as of now, no action had been taken. But, with this official announcement from IBM the company has managed to acquire shares of Red Hat in cash. In October it’s been shared that IBM is going to purchase shares of Red Hat at the price of 190 dollars each share that too in cash.

Now this trade deal of $34 billion is still one of the costliest mergers happened between the company. AOL- Time Warner merger which occurred a few years ago was worth $67 billion. Under this trade deal, Red Hat is now going to be a unit of IBM’s hybrid cloud division which might be going to add more value to the IBM. Since IBM has now acquired Red Hat, they will be managing the company directly. The report shows the CEO of Red Hat is still going to operate independently and will join the senior management committee of IBM shortly. IBM currently is focused on making a dent in cloud business, and with the help of Red Hat, they will manage to build useful products. Competition wise IBM is still behind Amazon and Microsoft in the cloud infrastructure business, and experts are predicting a good future for IBM after this merger. It will be interesting to see how both companies are going to collaborate and achieve the target.

Anurag Sharma

He has been helping in business of varied scales, with key strategic decisions. He is a specialist in healthcare, medical devices, and life-science, and has accurately predicted the trends in the market. Anurag is a fervent traveller, and is passionate in exploring untouched places and locations. In his free time, he loves to introspect and plan ahead.

Share this post:

Share on Facebook Share on Twitter Share on LinkedIn Share on Email

  • location_on420 Lexington Avenue, Suite 300 New York City, NY 10170,
    United States
  • phone+1 718 618 4351 (International)
  • phone+91 78878 22626 (Asia)
  • emailinquiry@market.us

Find Help

  • Contact Us

Legal

  • Privacy Policy
  • Our Team

Explore

  • Business
  • Technology
  • Health
  • Science

Secured Payment Options

PayPal Payment System
Payoneer Payment System

© 2022 Market.us. All Rights Reserved.