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Red Hat acquires Qumranet for approx. $107 Mln in Cash - Quick Facts

Red Hat, Inc. (RHT) announced the acquisition of privately held Qumranet, Inc. for approx. $107 million in cash. The acquisition includes Qumranet's virtualization solutions, Kernel Virtual Machine platform and SolidICE offering, a virtual desktop infrastructure, which together present a comprehensive virtualization platform for enterprise customers.

The company said the transaction is expected to be dilutive to Fiscal 2009 GAAP earnings by $0.05 to $0.06 per share. The acquisition is not expected to contribute materially to revenue in the fiscal year 2009, but should add up to $20 million in revenue in the following year.

by RTT Staff Writer

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