Red Hat, Inc. (Nasdaq:RHAT), the leader in developing, deploying and managing open source solutions, announced today that it has acquired Planning Technologies, Inc., an Atlanta-based professional consulting service company that specialises in infrastructure consulting for a wide array of clients, including enterprise, service providers and government.
Planning Technologies, Inc. has over 200 professional engineers and consultants. More than 60 percent of the staff has more than 10 years of technical experience and the company has a proven methodology for helping customers develop, deploy and manage network architecture. PTI clients include AT&T, Nationwide Insurance, Home Depot, Delta Airlines, BellSouth and a variety of government agencies. This acquisition continues Red Hat's business strategy to offer a complete open source solution for software, from devices to mainframes, and a full range of global services with Red Hat Network as the backbone for deployment and management.
"Customers around the world have been looking to Red Hat as the global leader in open source solutions to help them develop and deploy open source throughout their Internet infrastructure," said Matthew Szulik, president and CEO, Red Hat, Inc. "This acquisition adds to Red Hat's complete continuum of open source solutions and delivers customers the front-end professional consulting services needed to make informed buying and deployment decisions about their network infrastructure."
"Red Hat has a tremendous vision, expertise and market lead as the platform for a new generation of Internet and post-PC solutions," said Jake Sanchez, CEO, Planning Technologies, Inc. "We are very excited to be able to leverage Red Hat's unique spectrum of open source solutions in providing even more comprehensive solutions for our customers."
The acquisition of PTI was made through a stock for stock exchange valued at $47 million and accounted for as a pooling of interests.
About Red Hat, Inc.
Red Hat (Nasdaq:RHAT) offers users one single, trusted point of contact and a common plaform for developing, deploying and managing open source across Internet infrastructure and devices that connect to the Internet, ranging from small embedded devices to high availability clusters and integrated Web server/ecommerce OSes. The Red Hat Network, Red Hat's unique management technology, helps companies worldwide easily manage it all by delivering open source products, service, support and information on-line in real-time.
In addition to the award-winning Red Hat Linux server operating system, Red Hat offers Stronghold Secure Web Server and Credit Card Verification Software for secure e-commerce and is the principal provider of GNU-based developer tools and support solutions for a wide variety of embedded processors. Red Hat also provides run-time solutions such as Linux, eCos, Red Hat Embedded, the award-winning RedBoot, custom engineering services, support and training to organisations in all embedded and Linux markets.
Red Hat is headquartered in Research Triangle Park, N.C. and has offices
worldwide. For investor inquiries, contact Gabriel Szulik at Red Hat, +1 919-547-0012.
Red Hat Europe was established in July 1999 with its European
headquarters based in Surrey, United Kingdom and offices throughout
Europe. Red Hat Linux is sold and supported through a number of major
distribution and industry partners throughout Europe and from
http://www.europe.redhat.com/shop
About Planning Technologies, Inc.
Headquartered in Atlanta, PTI is a rapidly emerging network business consulting firm that focuses on assisting its clients with the building of their network infrastructure. PTI's world-class consulting and engineering practices focus on enterprise clients, both commercial and government as well as Communications Service Providers. Since its founding in 1992, PTI has grown to more than 200 employees, including more than 180 professional engineers and consultants, sixty percent of whom have more than 10 years of internetworking experience. For more information about PTI, visit http://www.planningtech.com
LINUX is a trademark of Linus Torvalds. RED HAT is a registered trademark of Red Hat, Inc. All other names and trademarks are the property of their respective owners.
FORWARD-LOOKING STATEMENTS
Forward-looking statements in this press release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release that are not strictly historical statements, including, without limitation, management's plans and objectives for future operations, and management's assessment of market factors, constitute forward-looking statements which involve risks and uncertainties. These risks and uncertainties include, without limitation, Red Hat's ability to effectively integrate the operations of Planning Technologies; Red Hat's ability to retain Planning Technologies' traditional customers; Planning Technologies' inexperience in offering professional consulting services to Linux customers; Red Hat's lack of experience in managing a large, geographically dispersed, professional services organization; reliance upon strategic relationships, management of growth, the possibility of undetected software errors, the risks of economic downturns generally, and in Red Hat's industry specifically, the risks associated with competition and competitive pricing pressures, the viability of the Internet, and other risks detailed in Red Hat's filings with the Securities and Exchange Commission, copies of which may be accessed through the SEC's Web site at http://www.sec.gov
- About Red Hat
Red Hat is the world’s leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.
- Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending; the effects of industry consolidation; the ability of the Company to compete effectively; the integration of acquisitions and the ability to market successfully acquired technologies and products; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company’s growth and international operations; fluctuations in exchange rates; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission’s website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
