The red hat intends to $350 million acquisition of JBoss is expected to be completed in May

According to foreign reports, open source software developers Red Hat Inc said on Monday that the company has agreed to $350 million in cash and stock acquisition of software maker Jboss.

The proportion of cash paid for the acquisition was 40%, the remaining $60% to pay ordinary shares of Red Hat Inc. The acquisition is expected to be completed in May. In addition to the initial payment of $350 million, Red Hat Inc may also pay $70 million bonus, depending on the company's future performance.

Red Hat Inc mainly developed software based on Linux system. Jboss is a company that produces middleware software. The Red Hat Inc at the end of last month the report as of the end of February 28th fourth quarter earnings, its profits last year compared to $11 million 800 thousand for the same period more than doubled, to $27 million 300 thousand, earnings per share from 6 cents in the same period last year increased to 13 cents.

Red Hat Inc said that the acquisition of Jboss may have a certain impact on the company's quarterly earnings as of the end of August 31st, however, may not affect the company's entire fiscal year earnings situation.