IBM announced that they have closes its acquisition of Red Hat for $34 billion. The acquisition combines the power and flexibility of Red Hat’s open hybrid cloud technologies with the scale and depth of IBM’s innovation and industry expertise.
“Together, IBM and Red Hat will accelerate innovation by offering a next-generation hybrid multi-cloud platform. Based on open source technologies, such as Linux and Kubernetes,” reads the press release.
Ginni Rometty, IBM chairman, president, and CEO, said that “IBM and Red Hat are uniquely suited to meet these needs. As the leading hybrid cloud provider, we will help clients forge the technology foundations of their business for decades to come.”