IT'S OFFICIAL: IBM is acquiring software company Red Hat for $34 billion

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Joe Scarnici/Stringer

IBM is in talks to acquire RedHat, the open source enterprise software company, according to Bloomberg.

It’s unclear how much the deal is worth, though a source tells Business Insider that it’s in the tens of billions of dollars. RedHat, which is publicly traded, has a market cap of $20.5 billion.

This is a developing story…

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