MOSCOW (Pakistan Point News / Sputnik - 29th October, 2018) US tech giant IMB has agreed a deal with Red Hat, an open source cloud software provider, to purchase it for $34 billion, becoming the world's biggest hybrid cloud provider.
"IBM and Red Hat, the world's leading provider of open source cloud software, announced today that the companies have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion," the statement reads.
IBM has hailed the agreement as the most significant tech acquisition of 2018, while its CEO Ginni Rometty said it was a game-changer that "changes everything about the cloud market."
