IBM Buys Linux Company Red Hat for $34B to Become World’s Leading Cloud Provider

Jim Whitehurst, Red Hat’s president and CEO, broke the news a few hours ago when he shared an email with the Red Hat associates to inform them that a deal was made between IBM (International Business Machines Corporation), a multinational information technology company, to acquire Red Hat for 34 billion US dollars. With this move, they want to create a leading hybrid cloud provider. With more than 25 years of experience, Red Hat is no doubt the world’s leading provider of Open Source and Linux-based software solutions for enterprises with its large catalog of products, including the well-known Red Hat Enterprise Linux (RHEL) operating system series. In 2017 alone, Red Hat announced revenue of US$2.9 billion, and in 2018, the company said that it made a net income of US$258.80 million.