IBM Going to Purchase Red Hat Software

Red Hat, which is probably best known for Red Hat Linux but also various other enterprise and cloud solutions, is about to be purchased by IBM to help the company not only compete in the Hybrid-Cloud business but to get ahead and go straight to the top of the industry, in an effort to combat a massive decrease in turnover in the 3rd quarter. Red Hat CEO Jim Whitehurst is to be integrated into IBM's top management.

With an offer of $190.00 per share IBM has offered a deal you cannot refuse it seems - valuing Red Hat at 34 billion dollars. Red Hat's share price was at $116.68 as of the end of trading last Friday. Share-holders will still have to agree.