IBM Acquired Red Hat For $34 Billion In Its Biggest Purchase

America’s IBM has acquired software company Red Hat in a $34 billion cash and debt deal, marking its biggest ever acquisition till date. Founded 25 years ago, Red Hat was valued at about $20.5 billion at the end of trading.
The open source, enterprise software maker will become a unit of IBM’s Hybrid Cloud division, with Red Hat CEO Jim Whitehurst joining IBM’s senior management team and reporting to CEO Ginni Rometty.
Source- CNBC