Red Hat Signs Definitive Agreement to Purchase ManageIQ [Manufacturing Close - Up]
(Manufacturing Close - Up Via Acquire Media NewsEdge) Red Hat, Inc., a provider of open source solutions, announced that it has entered into a definitive agreement to acquire ManageIQ, a provider of enterprise cloud management and automation solutions that enable organizations to deploy, manage and optimize private clouds, virtualized infrastructures and virtual desktops.
According to a release, with the addition of ManageIQ technologies to its portfolio, Red Hat will expand the reach of its hybrid cloud management solutions for enterprises.
Red Hat has agreed to acquire ManageIQ, a privately-held company, for approximately $104.0 million in cash. The closing of the transaction is subject to customary closing conditions, including approval by the stockholders of ManageIQ.
As an existing member of the Red Hat Enterprise Virtualization Certified Partner program, ManageIQ has worked closely with Red Hat to provide customers with unified monitoring, management and automation solutions that are quick-to-deploy and easy-to-use, which reduce the cost and complexity of enterprise clouds. ManageIQ's Hybrid Cloud Operations Management technologies complement Red Hat's existing cloud and virtualization management tools - Red Hat CloudForms and Red Hat Enterprise Virtualization - by providing integrated lifecycle management of activities such as server and storage provisioning, workload optimization, policy-based compliance, chargeback, virtual machine lifecycle management, discovery and control, and analytics across heterogeneous private clouds and virtualized datacenters.
The acquisition is expected to have no material impact to Red Hat's revenue for its fiscal year ending Feb. 28, 2013. Management expects that operating expenses (excluding the impact of stock- based compensation and the amortization of acquisition-related intangible assets) will increase by approximately $2 million per quarter as a result of the transaction, and stock-based compensation and amortization expense will increase by approximately $2 million per quarter.
Red Hat is a provider of open source software solutions, using a community-powered approach to high-performing cloud, Linux, middleware, storage and virtualization technologies.
ManageIQ provides scalable enterprise cloud management solutions, with unified monitoring, management and automation capabilities.
((Comments on this story may be sent to email@example.com))
(c) 2012 ProQuest Information and Learning Company; All Rights Reserved.
[ Back To TMCnet.com's Homepage ]