Friday, 2 May 2025
26.1 C
Singapore
29.5 C
Thailand
19.9 C
Indonesia
28.6 C
Philippines

In brief: IBM closes its US$34B acquisition of Red Hat

IBM closed its US$34 billion acquisition of Red Hat, the companies announced Tuesday. Shares of IBM were down less than 1% in late-morning trading.  The deal was originally announced in October, when the companies said IBM would buy all shares in Red Hat for US$190 each in cash. The acquisition of Red Hat, an open-source, […]
  • IBM closed its US$34 billion acquisition of Red Hat, the companies announced Tuesday.
  • Shares of IBM were down less than 1% in late-morning trading. 
  • The deal was originally announced in October, when the companies said IBM would buy all shares in Red Hat for US$190 each in cash.
  • The acquisition of Red Hat, an open-source, enterprise software maker, marks the close of IBM’s largest deal ever.
  • It’s one of the biggest in U.S. tech history.
  • Excluding the AOL-Time Warner merger, it follows the $67 billion deal between Dell and EMC in 2016 and JDS Uniphase’s $41 billion acquisition of optical-component supplier SDL in 2000.
  • Under the deal, Red Hat will now be a unit of IBM’s hybrid cloud division, according to the original announcement.
  • IBM previously said it hoped its acquisition of Red Hat will help it do more work in the cloud, one of its four key growth drivers, which are also social, mobile and analytics.
  • The company lags behind Amazon and Microsoft in the cloud infrastructure business.
  • IBM has seen three consecutive quarters of declining year-over-year revenue.
  • But some analysts are hopeful about the Red Hat deal’s opportunity to bring in new business.

Hot this week

Meta introduces new AI tools at LlamaCon

Meta's first LlamaCon event launches open AI tools to challenge OpenAI and promote accessible, developer-friendly AI solutions.

Exclusive Networks: Are Singapore businesses ready for AI, cybersecurity and the 2025 digital landscape?

Explore how AI is transforming cybersecurity in Singapore, the impact of Budget 2025, workforce gaps, and risks facing ASEAN businesses.

DeepSeek quietly releases new AI model focused on solving math’s problems

DeepSeek quietly releases Prover-V2, a maths-focused AI model, just after Alibaba’s Qwen3 launch, boosting speculation in the AI race.

AirPlay flaws could let hackers spread malware through your network

AirPlay bugs could let hackers attack your devices and spread malware on your network. Update your Apple gear now to stay safe.

Honor 400 Lite brings an AI camera button and Google Gemini to budget smartphones

Honour 400 Lite lands in Singapore with AI camera features, Google Gemini, and a bright display, all at a budget-friendly price.

Wikipedia gives editors a helping hand with generative AI

Wikipedia now uses generative AI to support editors with tasks like translation and research without replacing human contributors.

Google expands AI Mode with new features and wider access

Google expands AI Mode in Search, adding smarter shopping, local info cards, and saved searches for easier planning and research.

Microsoft reveals powerful new Phi 4 AI models to rival much larger systems

Microsoft launches compact Phi 4 AI models that offer powerful reasoning skills on smaller devices, rivaling much larger systems.

Garmin introduces Instinct 3 – Tactical Edition smartwatch in Singapore

Garmin launches the Instinct 3 – Tactical Edition in Singapore, combining durability, tactical tools, health tracking, and solar power.

Related Articles

Popular Categories