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IBM announced the acquisition of Red Hat in connection with a $ 34 billion transaction, or an expense of $ 190 per share in cash – a 62% premium at the closing of Friday. This is the biggest software acquisition ever made.. "The transaction changes the rules of the game. It's changing everything in the cloud market," said Ginni Rometty, President and Chief Executive Officer of IBM.IBM to become the world's leading hybrid cloud provider, offering businesses the only open cloud solution that will allow them to take full advantage of the cloud for their business. "
"Open source is the basic choice of modern computing solutions, and I am extremely proud of the role Red Hat has played in making this a reality in the corporate sector," said Jim Whitehurst, President and CEO. General of Red Hat. "By joining forces with IBM, we will have greater reach, more resources and more capacity to accelerate the impact of open source as a foundation for digital transformation and bring Red Hat to an even wider audience. preserve our unique culture and our ongoing commitment to open source innovation".
According to IBM, the union with Red Hat brings together the best providers of hybrid and cloud solutions. Will enable companies to safely move all business applications to the cloud. "Companies are already using multiple cloud solutions, but our research shows that 80% of business workloads have not yet moved to the cloud, due to the unique nature of the current cloud market.. This prevents the portability of data and applications across multiple clouds, data security in a multi-cloud environment, and consistent cloud management. "
IBM guarantees that the acquisition will not change the governance of Red Hat, its contribution to open source, community participation and development model. "IBM and Red Hat will remain focused on maintaining the freedom of open source, through initiatives such as the patent promise, the GPL cooperation commitment, the Open Invention network and the LOT network. "Existing partnerships with Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba and others will also continue to grow.
Upon completion of the acquisition, Red Hat will join the IBM Hybrid Cloud team as a separate unit, maintaining its independence.. Jim Whitehurst and the current management team will continue to lead Red Hat. Jim Whitehurst will join IBM's senior management and report directly to Ginni Rometty. IBM intends to maintain the headquarters, facilities, brands and practices of Red Hat.
The acquisition has been approved by the boards of directors of IBM and Red Hat, but is subject to approval by Red Hat shareholders and regulators around the world. If all goes well the transaction is expected to close in the second half of 2019.
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