IBM-Red Hat deal is all about resetting the cloud landscape, says IBM CEO Rometty 9:01 AM ET Mon, 29 Oct 2018 | 03:05IBM is acquiring Red Hat, a major distributor of open-source software and technology, in a deal valued around $34 billion, the companies announced on Sunday.
Most significant tech acquisition of 2018 will unlock true value of cloud for business- IBM and Red Hat to provide open approach to cloud, featuring unprecedented security and portability across multiple clouds- Deal accelerates IBM's high-value business model, making IBM the #1 hybrid cloud provider in an emerging $1 trillion growth market- Acquisition will be free cash flow and gross margin accretive within 12 months, accelerate revenue growth and support a solid and growing dividend- IBM to maintain Red Hat's open source innovation legacy, scaling its vast technology portfolio and empowering its widespread developer community- Red Hat to operate as a distinct unit within IBM's Hybrid Cloud team
Top companiescontributing to the Linuxkernel, 4.8– 4.13Intel 13.1%none 8.2%Red Hat 7.2%Linaro 5.6%unknown 4.1%IBM 4.1%consultants 3.3%Samsung 3.2%SUSE 3.0%Google 3.0%