Red Hat To Buy Privately-held ENovance - Quick Facts

(RTTNews) - Red Hat Inc. (RHT), a provider of open source solutions, has agreed to acquire privately-held eNovance, a provider of open source cloud computing services, for about 50 million euros cash and 20 million euros in common shares of Red Hat, subject to certain adjustments at closing. The transaction may close in June 2014.

Combined with Red Hat's existing leadership in OpenStack, the addition of eNovance's systems integration capabilities and engineering talent is targeted at meeting increasing demand for enterprise OpenStack consulting, design and deployment.

As stated by IDC analysts Laura DuBois and Ashish Nadkarni in their recent recap of the spring 2014 OpenStack Summit, "Integrators such as eNovance will continue to assist cloud service providers and enterprises in building large OpenStack clouds. ... The future for OpenStack is looking very bright. The next Summit in Paris, France, will take OpenStack to the next phase of its fascinating journey to become a de facto cloud OS."