Big Blue’s takeover of Red Hat could produce an über-cloud

BIG BLUE is donning red headgear. Even a few months ago the idea that IBM, a venerable corporate IT firm, would buy Red Hat, the biggest vendor of open-source software, would have been considered highly unlikely, not least because of IBM’s aversion to big mergers. But on October 28th IBM announced that it would take over the firm for $34bn, which represented a 63% premium over Red Hat’s closing share price at the end of the previous week.

Red Hat is no household name, but in the IT industry the firm is considered a big success. Founded in 1993, it reached $2.9bn in revenue in its most recent fiscal year. It takes free open-source software, makes some improvements, bundles it with other tools and services such as technical support, and charges a monthly subscription fee. The first product was a version of Linux, an operating system. It later acquired or developed more and...



via Business Feeds

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