IBM buys Red Hat in 'hybrid cloud' push: Page 3 of 3

October 29, 2018 //By Rich Pell
IBM buys Red Hat in 'hybrid cloud' push
IBM (Armonk, NY) has announced that it has agreed to acquire open-source software provider Red Hat (Raleigh, NC) in its goal to become the "world's #1 hybrid cloud provider."
by Jim Whitehurst and Red Hat's current management team. Jim Whitehurst will also be joining IBM's senior management team and report to Ginni Rometty. IBM says that it intends to maintain Red Hat's headquarters, facilities, brands, and practices.

The acquisition, says IBM, will accelerate its revenue growth, gross margin, and free cash flow within 12 months of closing, as well as support a growing dividend. Subject to Red Hat shareholder approval, regulatory approvals, and other customary closing conditions, the acquisition is expected to close in the latter half of 2019.

IBM
Red Hat

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