Red Hat acquires Qumranet

After Red Hat closed its second quarter, the company has announced the acquisition of Qumranet, an open-source virtualization company, positioning the open-source leader to close many more successful quarters to come.

Red Hat acquired Qumranet for $107 million in cash, according to the company, which is surprising, given Qumranet's comparative lack of revenue, having only released its product in September of 2007.

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