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19 Apr 2019

IBM is Preparing to Close it’s $34 Billion Acquisition of Red Hat

Analysts say that IBM delivered a "mediocre" quarter, but now all eyes are on its forthcoming $34 billion acquisition of Red Hat and whether IBM's big bet will pay off. On Tuesday, IBM announced it generated $18.18 billion in revenue this past quarter, missing analysts' expectations of $18.51 billion. The following day, IBM's stock was down 4%.