IBM Corp is nearing deal to acquire software company Red Hat Inc in a deal that could exceed US$30 billion and allow it to expand its cybersecurity offerings
The acquisition of Red Hat is a game-changer. It changes everything about the cloud market
IBM will become the world’s #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses. Most companies today are only 20 percent along their cloud journey, renting compute power to cut costs. The next 80 percent is about unlocking real business value and driving growth. This is the next chapter of the cloud.
It requires shifting business applications to hybrid cloud, extracting more data and optimizing every part of the business, from supply chains to sales.Open source is the default choice for modern IT solutions.
I’m incredibly proud of the role Red Hat has played in making that a reality in the enterprise,’ said Jim Whitehurst, President and CEO, Red Hat.
Joining forces with IBM will provide Red Hat with a greater level of scale, resources and capabilities to accelerate the impact of open source as the basis for digital transformation and bring Red Hat to an even wider audience – all while preserving their unique culture and unwavering commitment to open source innovation.