Red Hat to buy ManageIQ for $104M, expanding cloud offerings

12/21/2012 | Wall Street Journal, The

Red Hat says it will acquire ManageIQ, a provider of cloud-management and automation tools for enterprises, for $104 million. Red Hat CEO Jim Whitehurst said the purchase will "expand our portfolio of open-source solutions and enlarge our addressable market." The software company also reported net income of $34.8 million for its fiscal third quarter, down 9.1% from last year. Revenue in the period was up 18% from the year before to $343.6 million.

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