IBM to take over Indian staff in Red Hat buyout

IBM will take over 1,000 people on its rolls from Red Hat in India as part of its $33-billion acquisition of the open source software company in the world's second-largest technology deal so far. IBM will also get clients with high volume transactions such as Bombay Stock Exchange and National Stock Exchange once the cash deal to acquire Red Hat Inc is completed. Last week, IBM said it is acquiring Red Hat for $33 billion, a premium of 63 per cent over its traded value, as it looks to build the hybrid cloud capability and take on entrenched players such as Google Cloud, Amazon Web Services and Microsoft Azure. India is already the biggest resource for IBM, the world's largest computer services company with over 100,000 people building solutions, products for its customers globally and in India. Red Hat, which has research and development units in Bengaluru and Pune, contributed in making its open source solutions secure and scalable for deployment globally. In India, IBM is among the top vendor for local IT contracts. Red Hat's customer base of BSE and NSE, where the tradition systems handle hundreds of millions of transactions every working day, will help it to take it to other parts of the world.