Red Hat Inc (RHT) acquires Inktank for $175 million in cash

Posted Apr 30, 2014

Red Hat Inc (NYSE:RHT) is an open source software company that has announced it is acquiring Inktank, an open-source storage systems developer company. The acquisition is happening for $175 million in cash. Red Hat is combining Inktank?s Inktank Ceph Enterprise product with Red Hat’s own GlusterFS-based storage offering.

“With a shared commitment to open source, open standards and customer success, joining forces with Red Hat is something we are all very excited about. We believe our open storage technologies will be critical in the management of data in the coming era of cloud computing. Joining Red Hat will no doubt lead to tremendous innovation that will ultimately serve the industry well and answer the demand for open storage solutions fully integrated with existing and emerging data center architectures such as OpenStack,” stated Sage Weil, the founder and CTO of Inktank.

This is Red Hat’s 9th acquisition. Red Hat’s largest acquisition was cloud middleware vendor JBoss as part of a deal worth up to $420 million. Some of Inktank?s customers include Cisco, CERN and Deutsche Telekom.

Inktank raised $14.4 million in funding since launching in 2012. Investors include Canonical founder Mark Shuttleworth and New Dream Network, the company behind cloud hosting company DreamHost. New Dream Network was co-founded by Inktank’s Sage Weil. Weil also oversaw the development of Ceph.