IBM closes deal to buy Red Hat for $34 billion

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RALEIGH, N.C. (WNCN) – IBM has officially closed its $34 billion purchase of Red Hat, the companies announced Tuesday.

In late October, IBM announced it would purchase the Raleigh-based software company.

“Red Hat’s open hybrid cloud technologies are now paired with the unmatched scale and depth of IBM’s innovation and industry expertise, and sales leadership in more than 175 countries,” the companies said in a release. “Together, IBM and Red Hat will accelerate innovation by offering a next-generation hybrid multicloud platform.”

Red Hat CEO Jim Whitehurst will continue in his role with the company. He will also join IBM’s senior management.

“Joining forces with IBM gives Red Hat the opportunity to bring more open source innovation to an even broader range of organizations and will enable us to scale to meet the need for hybrid cloud solutions that deliver true choice and agility,” Whitehurst said.

IBM says Red Hat will continue to have its independence and neutrality.

The merger looks to “deliver next-generation hybrid multicloud platform.”

This story will be updated.

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