IBM is approaching an agreement to acquire the Red Hat software company: sources

IBM is approaching an agreement to acquire the Red Hat software company: sources https://www.eresviral.com/wp-content/uploads/2018/10/IBM-se-acerca-a-un-acuerdo-para-adquirir-la-compañía-de-software-Red-Hat-fuentes

IBM is approaching an agreement to acquire the Red Hat software company: sources

















FILE PHOTO: An IBM logo is seen at the Mobile World Congress in Barcelona, ​​Spain, on February 28, 2018. REUTERS / Yves Herman / File Photo    





(Reuters) - IBM Corp (IBM.N) is reaching an agreement to acquire the software company Red Hat Inc (RHT.N, in an agreement that could exceed $ 30 billion and help diversify their business away from hardware and technology consulting, people familiar with the matter said on Sunday.     

The agreement would be by far the largest acquisition of IBM. It underscores the efforts of IBM CEO Ginni Rometty to expand software offerings based on company subscriptions as it faces the slowdown in software sales and declining demand for mainframe servers. 

An agreement between IBM and Red Hat is expected to be announced later on Sunday, the sources said, asking not to be identified because the matter is confidential. IBM and Red Hat did not respond immediately to requests for comments. 

Red Hat specializes in Linux operating systems, the most popular type of open source software, which was developed as an alternative to proprietary software created by Microsoft Corp (MSFT.O).  

Red Hat charges fees to its corporate clients for custom functions, maintenance and technical support. It has a market capitalization of $ 20.5 billion. IBM has a market capitalization of $ 114 billion. 

Undoubtedly, IBM is no stranger to acquisitions. Acquired cloud infrastructure provider Softlayer in 2013 for $ 2 billion, and Weather Channel's data assets for more than $ 2 billion in 2015. It also acquired Canadian business software maker Cognos in 2008 for $ 5 thousand millions. 

IBM has faced years of declining revenue as it switches its business from legacy computer manufacturers to new technology offerings and services. It posted a larger-than-expected drop in quarterly earnings earlier this month.  





Report of Liana B. Baker and Greg Roumeliotis in New York; Edition by Cynthia Osterman





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