Ibm Acquires Red Hat For 34 Billion In Its Biggest Deal Ever

Sending a strong signal towards dominating the emerging $1 trillion Hybrid Cloud market, tech major IBM has announced to acquire Open Source Solutions leader Red Hat for a massive $34 billion.

Red Hat will operate as a distinct unit within IBM’s Hybrid Cloud team.

“Open source is the default choice for modern IT solutions, and I’m incredibly proud of the role Red Hat has played in making that a reality in the enterprise,” said Jim Whitehurst, President and CEO, Red Hat.

“IBM is committed to being an authentic multi-cloud provider, and we will prioritise the use of Red Hat technology across multiple clouds” said Arvind Krishna, Senior Vice President, IBM Hybrid Cloud.