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

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Tuesday, July 9, 2019
IBM acquires Red Hat in huge financial merger
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IBM is acquiring Raleigh-based Red Hat Inc., a major distributor of open-source software and technology, in a deal worth $34 billion, the companies announced on Sunday.

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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