Red Hat Reports Growth and Acquisition
Strong quarterly earnings have been reported by Red Hat of Raleigh, North Carolina, an open-source software and cloud management vendor. Further to this news, it also announced that it has purchased ManageIQ, a cloud software vendor, for $104 million.
A revenue of $343.6 million in its third fiscal quarter (an increase of 18 percent from $290 million in the same period last year) was also revealed by Red Hat.