EU Okays IBM's Red Hat Purchase

Creates Cloud Computing Behemoth
Source:  IBM Cloud

 $34 Billion Deal
Global tech giant IBM just received the go-ahead from the European Union to acquire open-source software provider Red Hat.  The multinational company is headquartered in Raleigh, North Carolina.  The approval is unconditional.  The EU found no anti-trust issues in the combination.  This is a $34 billion acquisition.

Game-Changer
IBM CEO Ginny Rometty calls the acquisition "a game-changer".  It's also IBM's largest acquisition to date.  According to Rometty, it will make IBM the #1 hybrid cloud provider and will open cloud solutions that will unlock the full value of the cloud for businesses.

Strategy
IBM's strategy with the deal is to expand its subscription based suite of software offerings.  It will help IBM compete with Microsoft, Amazon and Alphabet in the fast growing cloud computing business.  It's also an attempt to counterbalance falling software sales and declining demand for mainframe servers.  The acquisition has already cleared US regulators.  For a free Kindle borrow of my book on software innovations "How to Use AI and AR", go to amazon.com/author/ekane  ASIN: B07KBBQ44J

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