IBM to acquire software company Red Hat for $34b

IBM to acquire software company Red Hat for $34b

FILE PHOTO - A woman passes by the IBM offices in New York City, U.S. on October 17, 2016. REUTERS/Brendan McDermid/File Photo

IBM Corp said on Sunday it had agreed to acquire U.S. software company Red Hat Inc for $34 billion, including debt, as it seeks to diversify its technology hardware and consulting business into higher-margin products and services.

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