IBM CEO Says Shelling Out $33 Billion At A 63% Price Premium Is A Small Price To Pay When Pretending That IBM Is Still Relevant

Hear Ginni Rometty out here...
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When you think "Cloud computing pioneer mega-company," the first name thing that pops into your head is the iconic blue lettering of IBM.

GinniRometty (1)

No? Really?

Well, will a super-sexy tech acquisition that conveys a razor-sharp corporate cunning management style change your mind? Cuz...

IBM chief Ginni Rometty insisted on Monday that the more than 60 percent premium the tech giant is paying for Linux software distributor Red Hat is a "fair price."

Awwwww yeah, baby, "Linux."

"For us, it's all about resetting the cloud landscape" to become the "number one hybrid cloud provider," Rometty said, reiterating that IBM aims to be both a "cognitive and cloud company."

Yeah, folding your "Watson" supercomputer technology [which is kind of a semi-anonymous disappointment despite you spending a lot of time and treasure trying to make it a thing] into a business sector that is being absolutely dominated by Microsoft and Amazon, is definitely a ballsy move. Publicly throwing burning money while yelling that it's a deal is just baller.

The premium is a "fair deal," Rometty said, adding Red Hat CEO Jim Whitehurst has built a great company with "high growth" and "high profit."

But the proof is in the optics here, not the data. So you tell us with a straight face that you're not impressed IBM can lure a sexy young tech startup full of cool kids to join up for a mere blowout offer of $33 billion...

Addressing a question about his commitment upon completion of the deal, the 51-year-old [Red Hat CEO Jim] Whitehurst said, "I'm in this for the long run. I'm young. I plan to to be here for the rest of my career."

We hope that IBM is ready to have scooter parking in the office for all these babies joining up...

IBM CEO Ginni Rometty insists the 63% premium the tech giant is paying for Red Hat is a 'fair price' [CNBC]

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