Open-source software company Red Hat has announced earlier this week that they are going through a $300 million stock buyback program in common stock. This new plan replaces the previous $300 million buyback program with the final $179 million completed since February 28, 2013 at an average price of $49.15 per share. The new stock buyback program will allow management to use their discretion to buy Red Hat stock from time-to-time assuming that the market conditions are favorable until the $300 million allocation is completed.
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Google, BlackBerry, EarthLink, and Red Hat Sends Comments To The FTC and DOJ Around “Patent Troll” Issues
Matthew Bye, the Senior Competition Counsel at Google, has reported that Google has submitted comments with BlackBerry, EarthLink, and Red Hat to the Federal Trade Commission (FTC) and the Department of Justice (DOJ) about the growing harm that is caused by “patent trolls.” Google was encouraged by the recent attention on the problems that patent trolls cause, which is estimated to be around $30 billion per year according to a Boston University law study. Patent trolls hurt consumers and they stifle innovation.
Intel Capital and Red Hat has invested in NoSQL database company 10gen. 10gen has now raised a total of $81 million. 10gen is known as being the sponsor for popular open source NoSQL database MongoDB. This round of funding was undisclosed. According to TechCrunch, the company now has a total of $81 million in funding.
Red Hat has settle a patent infringement lawsuit with FireStar Software for $4.2 million. Red Hat attempted to fight the lawsuit by saying that open source licenses (especially in the context of the GNU) was incompatible with payment of patent royalties. Red Hat used the GPL to for refusing to offer customers implementations of AVC/H.264 video codec standards.
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Red Hat has filed a lawsuit against the Swiss government over a desktop software and services contract that was awarded to Microsoft. The Swiss government did not make a call for competitive bids before awarding the contract.
The contract revolves around standardizing desktop software licenses and applications for services, maintenance, and third-level support. The deal is worth about 42 million Swiss francs over three years. In U.S. dollars, that is about $39 million.
However The Swiss Federal Bureau for Building and Logistics awarded the contract to Microsoft for technical reasons because no other bidding party would be able to meet the requirements, or so they claimed. The Swiss law allows companies to award contracts to companies without the requirement of seeking competitive bids if that is the circumstance.
Red Hat claims that the Swiss Federal Agency for Computer Sciences and Telecommunications and the Swiss Federal Institute for Intellectual Property (IGE) is using them already. Red Hat sells enterprise Linux software that competes directly with Microsoft’s offerings.
German firm Open-Xchange is also pushing the Swiss government to give them a chance to make a bid on the contract too. About sixteen alternative companies all want to make a bid according to Red Hat.
[via IDG News]