Red Hat Buys California Cloud Storage Company For $175M
Leaders at Raleigh-based company developer Red Hat say the purchase of a California-based business will greatly boost its software storage capacity.
Red Hat spent $175 million to buy Inktank -- a open-source software storage provider. The transaction is expected to be finalized later this month.
Brian Stevens is executive vice president and chief technology officer at Red Hat. He said during a webcast announcing the deal that the purchase is part of establishing Red Hat as a world leader in technology development and storage.
"Adding flexibility for supporting open hybrid cloud requirement and unified storage, something that Red Hat feels passionately about... giving our customers the flexibility to run not just their applications but their data in the public cloud as well as on premise," Stevens said. "Red Hat and Inktank are strongly aligned in our commitment to driving innovation through community-developed software."
Red Hat representatives say the Inktank jobs that will be acquired will remain on the West coast.