|Exchange:||New York Stock Exchange|
|Stock:||Red Hat, Inc.|
|Industry:||Software - Application|
|Red Hat, Inc., was incorporated in Connecticut in March 1993 as ACC Corp., Inc., which subsequently changed its name to Red Hat Software, Inc. Red Hat Software, Inc. reincorporated in Delaware in September 1998 and changed its name to Red Hat, Inc. in June 1999. The Company uses the open source software development and licensing model to offer enterprise technologies to customers on a subscription basis. Subscriptions for its offerings are marketed and sold to customers directly and through channel partners. The open source software development and licensing model originated in academic and research environments. Under the open source model, a software developer distributes the human-readable source code version of the software under an open source license, such as the GNU General Public License (‘GPL’) or GNU Lesser General Public License. Open source licenses provide relative rights for recipients of the software to use, copy, modify and redistribute the software. Under the proprietary software model, a software vendor generally develops the software itself or acquires components from other vendors, without the input from a wider community of participants. It provides its software offerings to its customers mainly under annual or multi-year subscriptions. As of February 28, 2013, Red Hat had more than 80 locations around the world, including offices in North America, South America, Europe, Asia and Australia. The Company’s software offerings are designed to provide enterprises with high-performing, scalable, flexible, reliable, secure and stable technologies that meet customers’ IT infrastructure needs, both on-premise (i.e., running on computers located within an enterprise’s premises) and in a cloud. Its competitors include Attachmate, BMC, CA, HP, IBM, Microsoft and Oracle, all of which offer support for heterogeneous operating system environments, such as Linux, Solaris, AIX, HP-UX and Windows.|
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