In what may be the most significant tech acquisition of the year, IBM says it will acquire open-source software company Red Hat for approximately $34 billion.
Under the terms of the deal announced Sunday, IBM will acquire Red Hat for $190 a share — a premium of more than 60 percent over Red Hat’s closing price of $116.68 on Friday.
“The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” Ginni Rometty, IBM chairman, president and chief executive officer said in a statement. “This is the next chapter of the cloud.”
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