IBM acquires open source Linux firm Red Hat for $190 per share in cash. Red Hat will continue to be led by Red Hat CEO Jim Whitehurst and current management team. IBM intends to maintain Red Hat’s headquarters, facilities, brands, and practices. The acquisition deal will help IBM expand its reach as an enterprise cloud computing provider. IBM has been a major supporter of Linux and contributor to the kernel and other open source projects, but the company has been left behind Amazon, Alphabet (Google) and Microsoft.
Source: https://thehackernews.com/2018/10/ibm-redhat-tech-acquisition.html