Finance / United States
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Red Hat Acquires Cutting-edge Tech Firm
September 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Activity in the IT industry continues apace and this time its US firm Red Hat, Microsoft's open-source nemesis that has splashed out, paying US$107mn for Israeli firm Qumranet. Qumranet is a desktop virtualisation software developer. Loosely, this means it develops software that allows company's to centrally host and administer all desktop terminals, while giving end users the same flexibility and capacity they would get from autonomous PC's. Qumranet was founded by Mosche Bar, the same entrepreneur who founded the XenSource project that was later sold to Citrix for US$500mn.