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Red Hat Buys Planning Technologies for $47 Million in Stock

Feb 27, 2001, 19:28 (0 Talkback[s])
(Other stories by Fauve Yandel)

By Fauve Yandel, Atlanta.internet.com

Red Hat, Inc., an open source solutions provider based in Research Triangle Park, N.C., has acquired Planning Technologies, Inc., an Atlanta-based consulting service that focuses on infrastructure.

The acquisition strengthens Red Hat's strategy to offer open source solutions for software and a broad choice of services with Red Hat Network as the backbone for deployment and management. The acquisition of PTI was made through a stock for stock exchange valued at $47 million.

"Red Hat has a tremendous vision, expertise and market lead as the platform for a new generation of Internet and post-PC solutions," Jake Sanchez, PIT's CEO, said in a statement. "We are very excited to be able to leverage Red Hat's unique spectrum of open source solutions in providing even more comprehensive solutions for our customers."

"Customers around the world have been looking to Red Hat as the global leader in open source solutions to help them develop and deploy open source throughout their Internet Infrastructure," Matthew Szulik, president and CEO, Red Hat, said. "This acquisition adds to Red Hat's complete continuum of open source solutions and delivers customers the front end professional consulting services needed to make informed buying and deployment decisions about their network infrastructure."

PTI was founded in 1992 and currently employes over 200 people, including over 180 engineers and consultants. Some of PTI's customers include AT&T, Delta Airlines, Home Depot, Nationwide Insurance, BellSouth and several government agencies.

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