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Joele Frank Wilkinson Brimmer Katcher handles Red Hat as IBM agrees to acquire the software company for $34B, which represents a robust 63 premium over its closing stock price of Oct. 26.
Ginni Rometty, IBM CEO, predicted the biggest deal in Big Blue’s history would “reset the entire cloud landscape.”
She said: “IBM will become the world’s No. 1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their business.”
IBM and Red Hat have worked together for the past 20 years. “Joining forces with IBM will provide us with a greater level of scale, resources and capabilities to accelerate the impact of open sources as the basis for digital transformation and bring Red Hat to an even wider audience,” said Jim Whitehurst, CEO of Red Hat.
Joele Frank, Jim Golden, Nick Lamplough, Joe Sala and Sophie Throsby are working the Red Hat deal.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group handles Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
