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IBM Pursues Amazon Into Cloud With $33 Billion Red Hat Deal (4)

Oct. 29, 2018, 12:58 PM

IBM’s $33 billion purchase of Red Hat Inc. -- the world’s second-largest technology deal ever -- is aimed at catapulting the company into the ranks of the top cloud software competitors.

The cash deal, IBM’s biggest by far, boosts the 107-year-old computer-services giant’s credentials overnight in the fast-growing and lucrative cloud market — and gives it much-needed potential for real revenue growth. The company once synonymous with mainframe computing has been slow to adopt cloud-related technologies and has had to play catch-up to market leaders Amazon.com Inc. and Microsoft Corp. in offering computing and other software and services over the...

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