IBM said it has closed its acquisition of software company Red Hat. Photograph: EPA

IBM said on Tuesday it has closed its $34 billion (€30.33 billion) acquisition of software company Red Hat as it looks to ramp up its cloud-computing (...)

IBM chief executive Ginni Rometty said that she felt the deal was done at the right price.

IBM’s $34 billion deal to buy Red Hat drove shares in the small but fast-growing software maker 50 per cent higher on Monday, reflecting the huge prem(...)