IBM Is Said to Be Nearing a Deal to Acquire Software Maker Red Hat

International Business Machines Corp. is close to a deal to acquire software maker Red Hat Inc., according to people familiar with the matter.

An agreement could be announced as early as Sunday, said the people, who asked not to be identified because discussions are private. The terms of the deal couldn’t immediately be learned. Red Hat, based in Raleigh, North Carolina, has a market valuation of $20.5 billion. Its shares are down almost 3 percent this year.

Representatives for IBM couldn’t be immediately reached for comment. A spokesman for Red Hat couldn’t immediately comment.

Credit: Fortune

via USAHint.com