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BW: Red Hat Completes Cygnus and HKS Acquisitions to Create Global Open Source Powerhouse

“Red Hat(R), Inc… announced the completion of the acquisitions
of privately-held Cygnus Solutions and Hell’s Kitchen Systems, Inc.
(HKS). The Cygnus transaction, to be accounted for as a pooling of
interest, was completed in a stock-for-stock merger in which Red
Hat issued up to 6,624,344 shares for all outstanding securities of
Cygnus. Red Hat will issue up to 398,335 shares for all the
outstanding shares of HKS in a transaction to be accounted for
under the purchase method of accounting. Matthew Szulik, the
president and CEO of Red Hat, leads the combined companies.

“The acquisitions make Red Hat, Inc. the largest company in
the world dedicated to providing open source technology,
information and services,
offering the full spectrum of open
source software and support — from enterprise server and
e-commerce deployments to embedded and handheld platforms.”


Complete story
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