As it looks to bolster its cloud computing business, International Business Machines Corp. (IBM) has closed its $34 billion acquisition of Red Hat Inc. IBM had agreed to purchase the software company in October, which marks the largest acquisition in the company’s history of over 100 years, Reuters reported.
Jim Whitehurst, the CEO of Red Hat, along with his management team, will reportedly stay in place. Whitehurst will also become part of the senior management team at IBM and will report to Ginni Rometty. It was also noted that IBM will keep Red Hat’s Raleigh, North Carolina headquarters along with its brands, facilities and practices. The company will operate as a distinct IBM unit.
The firms noted that IBM, along with Red Hat, will provide “a next-generation hybrid multi-cloud platform” that is to be “based on open source technologies, such as Linux and Kubernetes.”
Full Content: PYMNTS
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
