Red Hat to buy software maker JBoss
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Red Hat Inc., a developer of open source software, said Monday it has agreed to buy software maker JBoss for $350 million in stock and cash. The acquisition, split 40 percent to 60 percent between cash and Red Hat common stock, is expected to be completed in May.
Red Hat develops software based on the Linux system and refines it for business and government users. JBoss, based in Atlanta, makes middleware, a type of software that connects different applications. The company said the acquisition of privately held JBoss will likely hurt earnings slightly in the quarter ending Aug. 31, but probably have no impact on the full fiscal year.
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