IBM to acquire software company Red Hat for $34 billion

IBM to acquire software company Red Hat for $34 billion

6 years ago
Anonymous $ZPWJA6-QD2

https://finance.yahoo.com/news/ibm-nears-deal-acquire-cyber-180812533.html

The transaction is by far IBM's biggest acquisition. It underscores IBM Chief Executive Ginni Rometty's efforts to expand the company's subscription-based software offerings, as it faces slowing software sales and waning demand for mainframe servers.

IBM, which has a market capitalization of $114 billion, will pay $190 per share in cash for Red Hat, a 63 percent premium to Friday's closing share price.

IBM to acquire software company Red Hat for $34 billion

Oct 29, 2018, 9:22am UTC
https://finance.yahoo.com/news/ibm-nears-deal-acquire-cyber-180812533.html > The transaction is by far IBM's biggest acquisition. It underscores IBM Chief Executive Ginni Rometty's efforts to expand the company's subscription-based software offerings, as it faces slowing software sales and waning demand for mainframe servers. > IBM, which has a market capitalization of $114 billion, will pay $190 per share in cash for Red Hat, a 63 percent premium to Friday's closing share price.