I don't think that this is a Halloween joke, either. You can read about it here (https://www.engadget.com/2018/10/28/ibm-buys-red-hat/). The deal is expected to close in the 2nd half of 2019.
IBM has a lot of interest in and connections to Linux dating back to before the dotcom crash in the early 2000s and particularly Red Hat. So it doesn't really surprise me though the price does. We're not that aware of how much they've worked together because it's been in the server market.
I didn't think that Red Hat was worth anywhere near that but it's not like I've looked their financials in 15 years. Looking at them now, have to say I'm impressed. Their net income last year was $258 million and assets of $5.8 billion, $1.7 billion in cash. Still seems crazy with what they're paying which is well over 100x the net income.
Net income 258 billion? Must be more than some big oil companies :)
This will be an interesting move, I wonder what other companies are going to copycat Ubuntu acquired by Microsoft?
It's like when the Database vendors flipped and started making big money off of their offerings. Amazon will be poised to purchase a Linux distro then soon too?
My what interesting times we live in.
Red Hat's initial public offering was on August 11, 1999. A total of 6,000,000 shares were priced at $14 ($7 post-split) per share. The lead underwriters were Goldman Sachs, Thomas Weisel Partners, H&Q, and E-Offering.
Current - As of this morning.
Market Summary > Red Hat Inc
NYSE: RHT
173.83 USD +57.17 (49.01%)
Quote from: fox on October 28, 2018, 11:51:17 PM
Net income 258 billion? Must be more than some big oil companies :)
Oops, fixed.
Here is the official IBM propaganda:
https://newsroom.ibm.com/2018-10-28-IBM-To-Acquire-Red-Hat-Completely-Changing-The-Cloud-Landscape-And-Becoming-Worlds-1-Hybrid-Cloud-Provider