IBM has closed its $34 billion acquisition of software company Red Hat, which has a base in Waterford.
It’s the company’s biggest acquisition in its more than 100-year history and represents IBM’s move toward faster-growing segments such as cloud, software and services, and away from traditional hardware products.
Red Hat’s Waterford office was established in 2014 following its acquisition of the cloud-based mobile software company, FeedHenry.IBM won approval for the purchase from U.S. regulators in May and European Union regulators in late June.The company agreed to pay 190 dollars a share for Red Hat, representing a 63 percent premium.