The Presidential Daily Brief

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    IBM to Buy Software Company Red Hat in $33 Billion Deal

    The tech giant is seeking to boost its role in the cloud computing business by agreeing to purchase the North Carolina-based Red Hat in its biggest acquisition ever. Analysts say the deal is a “game-changer” for the cloud market, placing IBM in closer competition with current leaders Amazon and Microsoft. Earlier, the company had disappointed investors with a third-quarter earnings report that showed a lack of progress in that sector.

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