IBM closes $34 billion acquisition of Raleigh-based Red Hat

RALEIGH, N.C. (WTVD) -- IBM announced Tuesday that it has closed a deal for the acquisition of Red Hat - totaling approximately $34 billion.

In October, IBM announced it would pay cash to buy all Red Hat shares for $190 each.

RELATED: IBM to acquire Raleigh-based Red Hat for $34 billion

Red Hat will continue to be led by Jim Whitehurst and its current management team.

IBM will maintain Red Hat's headquarters in Raleigh.

Red Hat will operate within IBM as part of its Cloud and Cognitive Software segment.

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