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IBM has announced it is acquiring Red Hat for $34 billion. The latter, a leading provider of enterprise open source solutions, was valued at approximately $20.5 billion. “IBM said the acquisition of Red Hat would position it to be a leader in the multi-cloud and hybrid cloud market.”
IBM reported lighter-than-expected revenue in its most recent earnings update. The company has been working to catch up to Amazon and Microsoft in the cloud infrastructure business. Cloud is one of IBM's four key strategic imperatives, or growth drivers -- the others are social, mobile and analytics -- and in the quarter, IBM announced cloud deals with Economical Insurance, ExxonMobil and Novis.
IBM reported lighter-than-expected revenue in its most recent earnings update. The company has been working to catch up to Amazon and Microsoft in the cloud infrastructure business. Cloud is one of IBM's four key strategic imperatives, or growth drivers -- the others are social, mobile and analytics -- and in the quarter, IBM announced cloud deals with Economical Insurance, ExxonMobil and Novis.