Red Hat Bolsters Cloud Services With eNovance Acquisition

Red Hat today announced the acquisition of privately held eNovance in a deal that brings one of the top OpenStack cloud contributors into the Red Hat fold. The deal is valued at approximately 50 million euros in cash and 20 million euros in shares of Red Hat common stock, which converts to approximately $95 million USD. Red Hat is not providing an official USD conversion amount for the transaction at this time.