|By Business Wire||
|September 2, 2014 09:32 AM EDT||
Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced that the company has been named one of the “World’s Most Innovative Companies” by Forbes magazine. Forbes named Red Hat the 12th most innovative company on its global list, and the eighth most innovative company in North America. Red Hat was one of only two enterprise IT systems software companies recognized by Forbes.
To be considered as one of the world’s most innovative companies by Forbes, “...companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from Credit Suisse HOLT). The difference between them is the bonus given by equity investors on the educated hunch that the company will continue to come up with profitable new growth.” Additionally, organizations on the list must have seven years of financial data and at least a $10 billion market cap.
Jim Whitehurst, president and CEO, Red Hat
“At Red Hat, we take pride in catalyzing innovation as one of our business’s core building blocks, from how we engineer and develop products and work with upstream open source communities to how we manage our people and interact with partners. Forbes’ recognition of Red Hat as a top global innovator illustrates the power of open, community-driven innovation and the critical role that this movement will have on the future of technology, in the enterprise and beyond.”
- Read more about the “World’s Most Innovative Companies”
- View the list of “The World’s Most Innovative Companies”
- See the methodology behind the “World’s Most Innovative Companies” rankings
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About Red Hat, Inc.
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.
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.
Red Hat is a trademark of Red Hat, Inc., registered in the U.S. and other countries.
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