IBM just closed its $34 billion acquisition of cloud software giant Red Hat, the biggest acquisition in the tech giant’s history.
As the deal closed, IBM vowed once more to keep Red Hat independent.
IBM’s top cloud exec said Red Hat will boost its hybrid cloud strategy — a market that it sees as being worth $1 billion.
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IBM on Tuesday closed its $34 billion purchase of Red Hat, the tech giant’s biggest acquisition ever, which Big Blue hopes will boost its bid to dominate in hybrid cloud — a market that it sees as a $1 trillion opportunity.
IBM unveiled its acquisition ambitions in October, raising eyebrows on what it hopes to gain from an expensive buy, while also causing a stir on what it means for Red Hat, the open source cloud software giant. IBM, for its part, has said that it boosts its hybrid cloud strategy, which it sees as a massive market.
IBM’s top cloud executive reaffirmed this on Tuesday.
“[Hybrid cloud] is a trillion-dollar opportunity, which is half of the total enterprise IT market,” Arvind Krishna, an IBM senior vice president who is leading the company’s cloud initiatives, told Business Insider.
IBM maintained …read more
Source:: Businessinsider – Technology