More on Red Hat: The company is spending $104M in cash to buy ManageIQ, a provider of cloud...

|About: Red Hat, Inc. (RHT)|By:, SA News Editor

More on Red Hat: The company is spending $104M in cash to buy ManageIQ, a provider of cloud management/automation software. The purchase complements Red Hat's cloud infrastructure and virtualization solutions, and underscores its efforts to compete with VMware, Citrix, and Microsoft in cloud/data center management. FQ3 deferred revenue balance was $988M, +5% Q/Q and +21% Y/Y. Subscription revenue of $294M, +5% Q/Q and +19% Y/Y. Free cash flow remains well above net income. RHT +6.4% AH. CC at 5PM ET (webcast), guidance should be provided.  (PR)