IBM Buys "Red Hat" Open-Source Software Company for $34 Billion

It's been quite a year for the open source platforms. Earlier this year, Microsoft acquired popular code repository hosting service GitHub for $7.5 billion, and now IBM has just announced the biggest open-source business deal ever. IBM today confirmed that it would be acquiring open source Linux firm Red Hat for $190 per share in cash, working out to a total value of approximately $34 billion.