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SAN FRANCISCO, Oct 29: Sending a strong signal towards dominating the emerging $1 trillion Hybrid Cloud market, tech major IBM has announced to acquire Open Source Solutions leader Red Hat for a massive $34 billion.
The acquisition, IBM's biggest so far, will provide open approach to Cloud, featuring unprecedented security and portability across multiple clouds, a joint statement said late on Sunday.
The deal, once goes through, will make IBM top Hybrid Cloud provider in an emerging $1 trillion growth market.
"The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," said Ginni Rometty, IBM Chairman, President and Chief Executive Officer. - IANS
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