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Ginni Rometty: 5 Reasons Why IBM Is Acquiring Red Hat

‘This is about resetting the cloud landscape and we will be the undisputed, number one leader in hybrid cloud,’ said IBM CEO Ginni Rometty on Monday.

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'We Have Been Shaping IBM For This Moment'

In arguably the biggest technology acquisition of 2018, IBM unveiled plans on Sunday to acquire open source giant Red Hat for a whopping $34 billion.

"This is the right time and we have been shaping IBM for this moment," said IBM CEO Ginni Rometty during a conference call with analysts and investors on Monday. "This is clearly IBM's most significant step in the transformation of our offerings and services to lead in high value. The combination of IBM and Red Hat, it's a game-changer."

IBM will acquire all issued and outstanding common shares of Red Hat for $190 per share, a significant premium above Red Hat's $116.68 per share as of Friday. Red Hat's stock has since jumped 43 percent to $167.62 per share as of Monday afternoon. Here are the five boldest statements from Rometty regarding the blockbuster acquisition expected to close during the second half of 2019.

Here’s what Rometty told investors on Monday.

 
 
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