International Business Machines (IBM) is acquiring software maker Red Hat in a deal valued at $34 billion, the companies said Sunday. From a report: The purchase, announced on Sunday afternoon, is the latest competitive step among large business software companies to gain an edge in the fast-growing market for Internet-style cloud computing. In June, Microsoft acquired GitHub, a major code-sharing platform for software developers, for $7.5 billion. IBM said its acquisition of Red Hat was a move to open up software development on computer clouds, in which software developers write applications that run on remote data centers.
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Source:: Slashdot