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IBM buys software company Red Hat for $34 billion in bid for cloud dominance

Oct 29, 2018 - 8:24 AM

The deal will see IBM acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, more than $70 above the $116.68 at which Red Hat was trading on close of business Friday

IBM AND RED HAT. In this file photo taken on February 26, 2018 the logo of Red Hat Software is pictured at the Mobile World Congress (MWC) in Barcelona.  Photo by Pau Barrena/AFP