IBM’s CEO Big Bet: Can Red Hat Deal Save Cloud Services Roads to Revenue?

Key takeaway – The Red Hat acquisition can be a win-win for IBM and CIOs’ multicloud strategies, so long as IBM resists the temptation to overload Red Hat solutions with IBM services. IBM’s CEO Rometty acquired Red Hat Inc for $34 billion to turn around cloud computing services. This is IBM’s largest acquisition in over 100 years, according to Reuters. IBM agreed to pay Red Hat shareholders $190 a share, or a high 63% premium over its value, as reported by Bloomberg media. IBM has had some missteps in the cloud computing execution over the last five years. It is in 4th place in cloud leadership behind Amazon…

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