IBM just acquired open source software company Red Hat to the tune of 34 billion dollars.  IBM bought all shares of Red Hat in cash, the CEO of Red Hat will be joining the senior level management team at IBM as well.  Red Hat is a distribution flavor of the open source kernel Linux.  IBM wants to compete with Microsoft and Google when it comes to cloud infrastructure.  Acquiring Red Hat is a step in the right direction, having a strong cloud infrastructure is imperative for their growth.

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