IBM plans to acquire open source champion Red Hat for $34 billion at $190 per share in an all-cash deal. The deal has been put up for approval by the board and shareholders of Red Hat. Over the last two decades, Red Hat has championed the open source movement. Companies like Facebook and Amazon have dabbled with Red Hat's open source knowledge before they went on to become a multi-million-dollar business. Red Hat, on the other hand, could not monetise its own product suite effectively, and annual revenue remained around $3 billion.
Bengaluru-based online bus aggregator ZipGo has acquired Pune-based Supreme Trans Concepts, including its bus aggregation platforms, MetroZip and CityZip. While the amounts and details of the deal remain undisclosed, ZipGo now has a 100 percent stake in Supreme Trans Concepts. The acquisition, says ZipGo, makes it the largest technology-driven B2C bus company in India and in line with its decision to make further inroads into the electric vehicle and e-rickshaw space.