IBM and Red Hat have announced they have closed the deal under which the former acquired the open source firm for approximately US$34 billion in an acquisition announced last October.
Open source company Red Hat has recorded an increase of 15% in its revenue year-on-year for the first quarter of the 2020 fiscal year which ended on 31 May.
Open source firm Red Hat, now owned by IBM, has crossed the US$3 billion annual revenue line for the first time, raking in US$3.4 billion, an increase of 15% year-on-year, for the financial year that ended on 28 February.
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