IBM to acquire Red Hat in deal valued at $34 billion

IBM is acquiring Red Hat, a major distributor of open-source software and technology, in a deal valued around $34 billion, the companies announced on Sunday. According to a joint statement, IBM will pay cash to buy all shares in Red Hat at $190 each. Shares in Red Hat closed at $116.

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Image courtesy of: Alex Sherman | Lora Kolodny

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