IBM Acquires Red Hat
The company announced that it will acquire Red Hat, a multinational Enterprise software company. As part of the deal, “IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.”
The deal transforms IBM as the leading hybrid cloud provider helping companies unlock open cloud solutions for their business and “accelerate IBM’s revenue growth, gross margin and free cash flow within 12 months of closing.”
As part of the deal, Red Hat will “operate as a distinct unit within IBM’s Hybrid Cloud team.”
Pepsico Announces a New Sustainability Goal
The company announced that it plans to use “25 percent recycled content in its plastic packaging by 2025.”
In order to achieve the goal, the company stated that it looks to collaborate with partners and suppliers to advocate for “improved recycling infrastructure and regulatory reform”.
The Expedia Group Acquires Two Accommodations Software Companies
The company announced that it has acquired Pillow and ApartmentJet. Pillow operates a software solution for building owners and managers, and ApartmentJet provides software for rentals in multifamily communities.
The deal looks to help “unlock urban growth opportunities that, over time, will contribute to HomeAway’s ability to add an even broader selection of accommodations to its marketplace”. HomeAway, a competitor to Airbnb was acquired by Expedia in 2015.
Terms of the Pillow and ApartmentJet deal were not disclosed.