Official: IBM to gobble Red Hat for $34bn – yes, the enterprise Linux biz

Mr.J

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IBM intends to acquire enterprise Linux maker Red Hat for $34bn (£27bn).

Following rumors of a deal over the weekend, Big Blue announced the move here, in the past hour, and Red Hat's take is here.

IBM made an offer of $190 per issued and outstanding Red Hat share, which was accepted: the current price stands at $116. Presumably the acquisition will have to jump various regulatory hurdles before it is set in stone. If it is successful, Red Hat will be absorbed into IBM's Hybrid Cloud unit.
https://www.theregister.co.uk/2018/10/28/ibm_redhat_acquisition/