IBM TO ACQUIRE RED HAT, COMPLETELY CHANGING THE CLOUD LANDSCAPE AND BECOMING WORLD’S #1 HYBRID CLOUD PROVIDER
Armonk, NY and Raleigh, NC — October 28, 2018 —
- Most significant tech acquisition of 2018 will unlock true value of cloud for business
- IBM and Red Hat to provide open approach to cloud, featuring unprecedented security and portability across multiple clouds
- Deal accelerates IBM’s high-value business model, making IBM the #1 hybrid cloud provider in an emerging $1 trillion growth market
- Acquisition will be free cash flow and gross margin accretive within 12 months, accelerate revenue growth and support a solid and growing dividend
- IBM to maintain Red Hat’s open source innovation legacy, scaling its vast technology portfolio and empowering its widespread developer community
- Red Hat to operate as a distinct unit within IBM’s Hybrid Cloud team
Joining forces with IBM will provide us with a greater level of scale, resources and capabilities to accelerate the impact of open source as the basis for digital transformation and bring Red Hat to an even wider audience – all while preserving our unique culture and unwavering commitment to open source innovation
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