Red Hat on Thursday announced an acquisition to boost its mobile business. Red Hat (RHT), the leading provider of Linux-based open-source software, reached an agreement to acquire FeedHenry, a developer of enterprise mobile application platforms, for $81.8 million. The deal is expected to close in about a year. Red Hat stock slipped a fraction in early trading in the stock market today, but it’s up 9% this year. Red Hat has fueled much of its
Red Hat’s (RHT) stock rose Thursday after its Q1 beat a day earlier showed that the company is still getting plenty of traction from its core Linux business. Red Hat’s results, posted late Wednesday, beat analyst estimates for the quarter ended May 31, a seasonally slow period for the No. 1 provider of products and services tied to the open-source Linux operating system. Red Hat stock was up 3.5% in early trading in the stock market, at 55. The
Red Hat sidestepped typical seasonal slowness, posting Q1 earnings late Wednesday that beat analyst views, led by its Linux unit. Red Hat’s (RHT) earnings outlook for the current quarter met views at 38 cents ex items, up 8.5%, while its sales guidance beat views. The firm sees sales of $432 million to $436 million, up 15.9% at the midpoint. Analysts had modeled $413.9 million. The company also raised its fiscal-year sales guidance by $30 million,