IBM closes Red Hat acquisition for $34 billion
by Greg Kumparak from Crunch Hype on (#4JTGR)
We've known it was coming since late last year, but now it's final: IBM has wrapped up its $34 billion acquisition of Red Hat, completing what is one of the largest tech acquisitions of all time.
IBM originally announced its intent to acquire the Linux developer in October of last year. The U.S. Department of Justice gave its stamp of approval in May, and the last big potential roadblock was removed when the EU gave its unconditional approval at the end of June.
IBM says that Red Hat will stay under the watch of CEO Jim Whitehurst, with Whitehurst joining IBM's senior management and reporting directly to IBM CEO Ginni Rometty.