IBM today announced that it has reached a definitive agreement with Red Hat, under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion. IBM belives that the acquisition will enable companies to securely move all business applications to the cloud, since research shows that 80% of business workloads have yet to move to the cloud, held back by the proprietary nature of today's cloud market. Both the companies will be strongly positioned to address this issue and accelerate hybrid multi-cloud adoption. Red Hat was founded in 1993 and the first release of Red Hat Linux was on Oct. 31, 1994. IBM’s and Red Hat’s partnership has spanned 20 years, with IBM serving as an early supporter of Linux, collaborating with Red Hat to help develop and grow enterprise-grade Linux and more recently to bring enterprise Kubernetes and hybrid cloud solutions to customers. IBM and Red Hat also will continue to build and enhance Red Hat partnerships, including those with major cloud providers, such as Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba and more, in addition to the IBM Cloud. At the same ...
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