| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
187 |
| Employees |
7,300 |
| Revenues (TTM) (Millions $) |
3,483 |
| Net Income (TTM) (Millions $) |
462 |
| Cash Flow (TTM) (Millions $) |
0 |
| Capital Exp. (TTM) (Millions $) |
84 |
Business Description
Red Hat Inc. is a multinational software company founded in 1993 by Bob Young and Marc Ewing in Durham, North Carolina, United States. The company is a leading provider of open source solutions, including Linux operating systems, cloud infrastructure, middleware, management, and storage solutions. Red Hat's primary focus is on developing and distributing enterprise-grade software solutions that are built on open source technologies.
The company's flagship product is Red Hat Enterprise Linux (RHEL), which is one of the most widely used operating systems in the world, providing a secure, flexible, and stable platform for enterprise applications. The Red Hat OpenShift cloud computing platform is also a key product, which enables developers to create, deploy and manage applications in a hybrid cloud environment.
Red Hat is recognized as a leader in the open source community, contributing significant resources to the development of open source technologies. The company is also a member of numerous open source organizations and initiatives, including the Linux Foundation and the OpenStack Foundation. In addition, Red Hat regularly works alongside other tech giants such as Microsoft, Google, and Amazon, to help shape the direction of the industry.
Red Hat has a global presence with more than 12,000 employees spread across 35 countries. The company's revenue primarily comes from its subscription-based business model. This model focuses on providing services such as technical support, training, and consulting in addition to license sales, giving customers a comprehensive solution for their IT needs.
In October 2018, Red Hat announced that it would be acquired by IBM for $34 billion. This acquisition marked a significant milestone for both companies, with IBM looking to expand its cloud computing capabilities, and Red Hat benefiting from IBM's extensive resources and long-standing reputation in the industry.
Overall, Red Hat Inc. is a highly respected technology giant that has revolutionized how businesses operate using open source technologies, and continues to be at the forefront of the industry's technological advancements.
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