IBM is buying open-source software pioneer Red Hat for $34bn, in the biggest acquisition in the IT veteran’s 107-year history.
The deal will help both companies accelerate the move to cloud computing among big corporate clients, as well as providing a much-needed boost to IBM’s revenue growth.
“This is to reset the entire cloud landscape,” said Ginni Rometty, IBM’s chief executive, in an interview. “We have been reshaping IBM for this moment.”
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