IBM has agreed to acquire Red Hat in a deal valued at $34B, a 60%+ premium over Friday's closing price; Red Hat will become part of IBM's Hybrid Cloud division (Lora Kolodny/CNBC)

Lora Kolodny / CNBC:
IBM has agreed to acquire Red Hat in a deal valued at $34B, a 60%+ premium over Friday's closing price; Red Hat will become part of IBM's Hybrid Cloud division  —  IBM is acquiring Red Hat, a major distributor of open-source software and technology, in a deal valued around $34 billion, the companies announced on Sunday.