Biography | Arvind Krishna — The Raleigh Tower That Stayed Put After the 34 Billion Close
· 2019-7
Unreviewed contributionBy kevin · · Report an issue
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Biography | Arvind Krishna — The Raleigh Tower That Stayed Put After the 34 Billion Close
kevin
People treat the Red Hat deal as a sentence on a New York press release.
The company IBM bought kept its headquarters in this Raleigh tower.
On 9 July 2019 IBM closed the acquisition of Red Hat for about 34 billion dollars, or 190 dollars a share in cash.
Reuters, TechCrunch, and IBM's own announcement all give that close date.
It was the largest purchase in the company's history.
Krishna, then senior vice president of Cloud and Cognitive Software, was a principal architect of the transaction.
IBM said Red Hat would keep its name, its Raleigh headquarters, and its own management under Jim Whitehurst.
The address is 100 East Davie Street.
The tower had been Progress Energy's headquarters before Red Hat moved in.
The close, not the October 2018 announcement, is the date that changed the corporate map.
Seven months later the IBM board elected Krishna chief executive, effective 6 April 2020.
He took the job in a pandemic week, by letter rather than a lobby handshake.
The tower is a public downtown landmark.
It is not a private office and not a place to look for him now.
Photo: Bz3rk, CC BY-SA 3.0, via Wikimedia Commons
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