Red Hat To Acquire CoreOS - Quick Facts

(RTTNews) - Red Hat, Inc. (RHT) announced it has signed a definitive agreement to acquire CoreOS, Inc., a provider of Kubernetes and container-native solutions, for a purchase price of $250 million, subject to certain adjustments at closing that are not expected to be material. The transaction is expected to have no material impact to Red Hat's guidance for its fourth fiscal quarter or fiscal year ending Feb. 28, 2018.

Red Hat said the acquisition of CoreOS will further its vision of enabling customers to build any application and deploy them in any environment with the flexibility afforded by open source. By combining CoreOS's complementary capabilities with Red Hat's already broad Kubernetes and container-based portfolio, including Red Hat OpenShift, Red Hat aims to further accelerate adoption and development of the industry's leading hybrid cloud platform for modern application workloads.