News

Red Hat to Buy Inktank for $175 Million

Says the acquisition positions Red Hat as leading provider of open software-defined storage across object, block, and file system storage

Red Hat has agreed to acquire Inktank, a privately-held company, for approximately $175 million in cash, subject to certain adjustments at closing.

As part of the transaction, Red Hat will assume unvested Inktank equity outstanding on the closing date and issue certain equity retention incentives. The transaction is expected to close in May 2014, subject to customary closing conditions.

Inktank’s flagship technology, Inktank Ceph Enterprise, delivers world class object and block storage software to enterprises deploying public or private clouds, including many early adopters of OpenStack clouds. Combined with Red Hat’s existing GlusterFS-based storage offering, the addition of Inktank positions Red Hat as the leading provider of open software-defined storage across object, block and file system storage.

Sage Weil, founder and CTO, Inktank, said, “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.”

“Inktank has done a brilliant job assembling a strong ecosystem around Ceph and we look forward to expanding on this success together. The strength of these world-class open storage technologies will offer compelling capability as customers move to software-based scale-out storage systems,” said Brian Stevens, executive vice president and CTO, Red Hat.

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