Red Hat Acquires Inktank for $175,000,000

  • Feed Type
  • Date
    4/30/2014
  • Company Name
    Inktank
  • Mailing Address
    707 Wilshire Blvd Los Angeles, CA 90017 USA
  • Company Description
    Inktank is a professional services and support company that was founded in 2012 by several creators of Ceph, including Sage Weil, cofounder of DreamHost and CEO and Chief Architect of Ceph. The company is based in Los Angeles, CA and is funded by New Dream Network.
  • Website
    http://www.inktank.com
  • Transaction Type
    M&A
  • Transaction Amount
    $175,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Red Hat has agreed to acquire Inktank, a privately-held company, for approximately $175 million in cash, subject to certain adjustments at closing. As part of the transaction, Red Hat will assume unvested Inktank equity outstanding on the closing date and issue certain equity retention incentives. The transaction is expected to close in May 2014, subject to customary closing conditions.