IBM has agreed to acquire Red Hat Inc. for 33,4 billions of dollars. IBM will go on the market because it is interested in boosting the cloud.
International Business Machines Corp. will pay 190 dollars per share in cash for Red Hat, a software development company based in North Carolina, according to a joint statement of companies today on Sunday.
"The acquisition of Red Hat is changing the game, changing everything about the cloud market," said Ginni Rometty, IBM President and CEO.
Rometty, 61, has been trying for years to steer a 107-year-old company into more modern businesses, including the cloud, artificial intelligence and security software.
In its third-quarter results, IBM disappointed investors looking for more progress after six years drops in sales that had started to show profits earlier in 2018. So the purchase of Red Hat will give IBM an immediate increase in its income from the cloud market as well as a number of very reliable software products.
"We're going to magnify what Red Hat is doing deeper in many more businesses than they were able to have," Rometty told Bloomberg.
Revenue from Red Hat, which sells Linux-based software and services, is expected to exceed $ 3 billion for the first time this year as the company's Red Hat Enterprise Linux product attracts businesses from large customers. In the last quarter, the company reported a record 11 of over $ 5 million each and 73 of over $ 1 million, according to JMP Securities analyst Greg McDowell.
IBM promised to continue to increase the dividend and not to cut jobs after the deal.
So Red Hat makes IBM "a credible player in the cloud now — in both private and hybrid cloud," the Bloomberg analyst said. market Anurag Rana.
Η Goldman Sachs Group Inc. και η JPMorgan Chase & Co. συμβούλευσαν την IBM για τη συμφωνία και την παροχή χρηματοδότησης.
"Knowing first hand how important open source hybrid technologies are and how much they help businesses, we want to bring these two companies together," said JPMorgan CEO Jamie Dimon.
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