IBM acquires Red Hat

IBM and Red Hat, the world's leading provider of open source cloud software, announced today that the companies have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.

With this acquisition, IBM will remain committed to Red Hat's open governance, open source contributions, participation in the open source community and development model, and fostering its widespread developer ecosystem. In addition, IBM and Red Hat will remain committed to the continued freedom of open source, via such efforts as Patent Promise, GPL Cooperation Commitment, the Open Invention Network and the LOT Network.

This comes as a surprise, but now that I think about it, Red Hat would've been a great acquisition for a number of cloud providers, including Amazon and Microsoft. Let's hope the second quoted paragraph isn't an empty promise.