- Bonuses and Promotions
The world's largest provider of computer services, IBM, has completed the purchase of Red Hat software developer in a deal worth about $ 34 billion. It became the largest purchase in the history of IBM and one of the record for the industry as a whole.
IBM clarifies that Red Hat will continue to be headed by Chief Executive Officer Jim Whitehurst, who will now report to IBM CEO Ginny Romette. Red Hat’s headquarters will remain in Raleigh (North Carolina Civic Center).
After acquiring Red Hat, the cloud business will account for about a quarter of IBM's revenue, up from just 4% in 2013.
Red Hat revenue for the fiscal year, which ended in February, increased by 15% and amounted to 3.4 billion dollars. In March-April, it also increased by 15%, to $ 934 million. IBM's capitalization over the past 12 months has decreased by 3.9%, but since the beginning of the current year it jumped by 22.6% and now stands at about $ 124.6 billion.
Recall also IBM is expanding its activities in the direction of cryptocurrency technologies. So, IBM received a patent for a blockchain-based security system. This can help prevent various types of hacker attacks.