IBM is reportedly nearing a deal to acquire Red Hat, the software company valued at $20 billion

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Joe Scarnici/Stringer

IBM is in talks to acquire Red Hat, the open source enterprise software company, according to Bloomberg.

It’s unclear how much the deal is worth, though a source tells Business Insider that it’s in the tens of billions of dollars. Red Hat, which is publicly traded, has a market cap of $20.5 billion.

Get the latest IBM stock price here.

Source: Business Insider

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