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.
Tech services and hardware vendor IBM has acquired open source company Red Hat for a sum of about US$34 billion, the two companies announced on Sunday, US time.
Red Hat is a successful, public open source software company. It’s the first open source company to crack US$1 billion in revenue and is closing in on US$3 billion. Here is some advice from the chief executive for your own business.
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