IBM, a provider of computer solutions, completed the acquisition Red Hat, a provider of open source cloud software. 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 $34bn. This acquisition brings together the best-in-class hybrid cloud providers and will enable companies to securely move all business applications to the cloud. "IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses," Ginni Rometty, IBM Chairman, President and Chief Executive Officer.