IBM agreed to acquire software maker Red Hat Inc. in a $33.4 billion bet on jump-starting its efforts to catch up in the cloud. International Business Machines Corp. will pay $190 a share in cash for Raleigh, North Carolina-based Red Hat, according to a statement from the companies Sunday, confirming an earlier Bloomberg News report. That’s a 63 percent premium over Red Hat’s closing price of $116.68 per share on Friday.

https://www.bloomberg.com/news/articles/2018-10-28/ibm-is-said-to-near-deal-to-acquire-software-maker-red-hat