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New York.– The US IT group announced today that it has reached an agreement to acquire Red Hat, the world's leading provider of open source cloud software, for $ 34 billion.
The veteran IBM will pay $ 190 per share, a premium of more than 60% over the closing price of Red Hat shares last Friday, said the joint statement of the two companies.
This agreement would improve IBM's cloud offering, a significant growth area for the company.
"The acquisition of Red Hat is changing the game, it is changing everything in the cloud market," said Ginni Rometty, president and chief executive officer of IBM.
Rometty said that after this acquisition, IBM "would become the world's leading provider of hybrid cloud computing, offering businesses the only open cloud computing solution to fully exploit the value of the cloud for their customers." business".
As a result of this agreement, Red Hat will continue under the leadership of Jim Whitehurst and its current management team and will also join IBM, which intends to maintain the offices of Red Hat.
In addition, according to this statement, Red Hat will join the IBM Hybrid Cloud team as a separate unit, thereby preserving the independence and neutrality of its legacy and commitment to open source development. as well as the current product portfolio. the launch strategy on the market.
"Open source is the default option for modern computing solutions, and I am extremely proud of the role that Red Hat has played in making this a reality in the business," Whitehurst said.
He said the union with IBM would provide them with a higher level of scale, resources, and capabilities to accelerate the impact of open source as a base for transformation. Digital and bring Red Hat to a wider audience.
The companies said the deal brings together the best hybrid cloud providers in its class and allows them to securely transfer all business applications to the cloud.
IBM and Red Hat already had an association that spanned two decades.
"The announcement today marks the evolution of our long association," said Rometty. "This includes our joint announcement of a collaboration with Hybrid Cloud in May, a key precursor of our trip to date."
The companies also announced that they would continue to create and enhance Red Hat's partnerships, including with leading cloud providers, such as Amazon Web Services, Microsoft Azure, Google Cloud , Alibaba, etc., in addition to IBM Cloud.
At the same time, Red Hat will leverage hybrid cloud computing and IBM 's enterprise computing to extend its open source technology portfolio to businesses worldwide.
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