IBM Poised To Buy Open Source Software Giant Red Hat for $34 billion
Updated: Oct 28, 2018
In, what is sure to be one of the biggest M&A deals this year, IBM is buying open software company Red Hat for $34 billion.
In, what is sure to be one of the biggest deals this year, IBM is buying open software company Red Hat for $34 billion. The "most significant tech acquisition of 2018." According to officials of both firms. The deal is expected to close in the second half of 2019.
"The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," IBM chief Ginni Rometty said in a statement.
What is "The Could?"
The cloud or Cloud computing is shared pools of configurable computer system resources and higher-level services that can be rapidly provisioned with minimal management effort, often over the Internet.
Cloud computing relies on sharing of resources to achieve coherence and economies of scale, similar to a public utility.
Both IBM and Red Hat are major players in cloud computing, with both firms positioned to be more of a facilitator of the universe, along with other well-known companies like Microsoft, Amazon and Google.
Red Hat, for one operates as the conduit through which cloud services are able store and share data easily.
Most cloud services restrict the sharing and overall portability of data. Red Hat claims to be the go-to solution for this issue.
Together, both firms will be able to gain a larger chunk of the cloud market share and operate at scale with fewer redundancies.
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