WASHINGTON - IBM said Sunday it has reached a deal to buy open source software company Red Hat for $34 billion, among the biggest tech mergers in history which the computing giant said would enhance its cloud offerings. If approved it will be the third biggest tech merger in history, according to business news site CNBC. Red Hat said it was the biggest involving a software company. The deal will see IBM acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, more than $70 above the $116.68 at which Red Hat was trading on close of business Friday. "The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," said Ginni Rometty, IBM's chairman, president and CEO. "IBM will become the world's number one hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses." Cloud computing refers to the delivery of computing services, including … [Read more...] about News IBM buys software company Red Hat for $34 billion in bid for cloud dominance
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IBM buys software company Red Hat for $34bn in bid for cloud dominance
If approved it will be the third biggest tech merger in history, according to business news site CNBC. Red Hat said it was the biggest involving a software company. The deal will see IBM acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, more than $70 above the $116.68 at which Red Hat was trading on close of business Friday. "The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," said Ginni Rometty, IBM's chairman, president and CEO. "IBM will become the world's number one hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses." Cloud computing refers to the delivery of computing services, including storage and software, over the internet to achieve economies of scale. Hybrid cloud relates to the linking of public and private cloud platforms. IBM's Rometty added that most companies are currently being held back in … [Read more...] about IBM buys software company Red Hat for $34bn in bid for cloud dominance
Builk teams up with AddVentures in bid for Asean-wide impact
Builk plans to improve the service with artificial intelligence and blockchain technology and expand its business to all 10 Asean countries. Patai Padungtin, the chief executive officer and co-founder of Builk One Group, the developer of the construction contractor platform, said that joining hands with AddVentures by SCG as a strategic partner would boost Thailand’s construction industry to catch the global digitisation trend by fully utilising a technological platform. They aim to develop a B2B purchasing-buying process for the construction industry and expand the platform to all Asean countries. Builk One Group, a Thai start-up, has been operating since 2009. It is the first start-up in Asia that provides the construction business management software for free. Currently Builk.com, an online cost-control system, serves more than 25,000 small and medium-sized contractors in five Asean countries – Thailand, Indonesia, Laos, Myanmar and Cambodia. The distinctive … [Read more...] about Builk teams up with AddVentures in bid for Asean-wide impact
Armenian opposition leader fails in bid to become prime minister
YEREVAN: Armenia's protest leader Nikol Pashinyan on Tuesday failed to get elected prime minister after the ruling party withheld its support in a crucial vote, raising fears of worsening political turmoil. Lawmakers voted 45 in favour to 55 against Pashinyan, with the ruling Republican Party rejecting his candidacy after hours of deliberations during a day-long extraordinary parliament session. "The political force which declared a war against its own people has destroyed itself," Pashinyan said in parliament after the vote. "No one will be able to take the victory away from the people." The Republican Party headed by the ousted former prime minister Sezh Sarkisian withheld support for the protest leader despite tens of thousands massing in the streets and Pashinyan warning that the lawmakers' unwillingness to back him could lead to a 'political tsunami.' Huge crowds had earlier gathered in central Yerevan, clutching tricolour flags and watching a live video stream from the … [Read more...] about Armenian opposition leader fails in bid to become prime minister
Apple bid for education market: New software, same iPad price
Apple Inc on Tuesday rolled out a new iPad and classroom software aimed at grabbing more of the U.S. education market, but did not cut the price of its entry-level tablet despite schools flocking to laptops costing a third less. Apple is looking to reassert dominance in U.S. schools, where inexpensive laptops running software from Alphabet Inc’s Google and Microsoft Corp now top iPad by sales, offering a cheap way to get to cloud-based productivity tools. The new iPad has a more powerful computing chip and an extensive set of new, free software for teachers to manage students and schoolwork. But the unchanged starting price of $299 for students and $329 for the general public, without a keyboard or case, compares with less than $200 for some Windows and Google Chrome models. Apple shares were down 1.4 percent to $170.26 after the event, slightly better than the NASDAQ Composite, which was down 1.6 percent in midday trading. Some analysts had believed Apple might cut prices, … [Read more...] about Apple bid for education market: New software, same iPad price