IBM Buys "Red Hat" Open-Source Software Company for $34 Billion
It's been quite a year for the open source platforms.
Earlier this year, Microsoft acquired popular code repository hosting service GitHub for $7.5 billion, and now IBM has just announced the biggest open-source business deal ever.
IBM today confirmed that it would be acquiring open source Linux firm Red Hat for $190 per share in cash, working out to a total value of approximately $34 billion.
Red Hat, known for its Red Hat Enterprise Linux (RHEL) operating system, is a leading software company that offers open-source software products to the enterprise community. Even Oracle uses Red Hat’s source code for its Oracle Linux product.