IBM confirms acquisition of Red Hat for $34 bn | Editorji
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IBM confirms acquisition of Red Hat for $34 bn

Oct 29, 2018 18:40 IST

IBM has confirmed that it will acquire open source, cloud software business Red Hat for 34 billion dollars. The acquisition highlights IBM's shift towards cloud computing in order to revive its declining sales. The buy-out for 190 dollars per share is more than a 60% premium over Red Hat's closing share vlaue of 116.68 dollars on Friday.

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