Forbes Names Red Hat One of the World's Most Innovative Companies
August 26 2016 - 2:00PM
Business Wire
Forbes ranks Red Hat as the 25th most
innovative company in the world; Recognition speaks to power of
open source innovation
Red Hat, Inc. (NYSE: RHT), the world's leading provider of open
source solutions, today announced it has been named to Forbes'
“World’s Most Innovative Companies” list. Red Hat was ranked as the
25th most innovative company in the world, marking the company's
fourth appearance on the list (2012, 2014, 2015, 2016). Red Hat was
named to Forbes' "World's Most Innovative Growth Companies" list in
2011.
More than 20 years ago, Red Hat disrupted the enterprise
software world with new models for technology and business
innovation. Today, Red Hat is the global leader in open source
software, credited with bringing open source to the enterprise
mainstream and inspiring the continued evolution of open source,
which is driving key innovations across the technology landscape,
from cloud computing and Linux containers, to mobile, big data, and
beyond. In its 2016 predictions, Deutsche Bank wrote that “open
source keeps eating the world,” with “open source rivals for almost
every major infrastructure and data management software market.”
Red Hat is the only open source software company on Forbes' 2016
list.
According to Forbes, “[t]he World’s Most Innovative Companies
list consists of firms that investors feel are most likely to come
up with the next big innovation. Companies are ranked by their
innovation premium: the difference between their market
capitalization and the net present value of cash flows from
existing businesses (based on a proprietary algorithm from Credit
Suisse HOLT).”
Supporting Quote
Jim Whitehurst, president and CEO, Red Hat
“It is always an honor to see Red Hat's name on this list.
Today, open source is a default choice for innovation, and more
than 90 percent of Fortune 500 companies rely on Red Hat's
enterprise open source solutions. This recognition by Forbes is a
tribute to not only Red Hat associates around the world, but also
to the open source communities that are driving community-powered
innovation."
Additional Resources
- View the full list of the 2016 World's
Most Innovative Companies
- Read Red Hat's profile on the 2016
World's Most Innovative Companies list
Connect with Red Hat
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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 provide reliable
and high-performing cloud, Linux, middleware, storage and
virtualization technologies. Red Hat also offers award-winning
support, training, and consulting services. As a 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.
Forward-Looking Statements
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 the ability of the Company to compete effectively;
the ability to deliver and stimulate demand for new products and
technological innovations on a timely basis; delays or reductions
in information technology spending; the integration of acquisitions
and the ability to market successfully acquired technologies and
products; fluctuations in exchange rates; the effects of industry
consolidation; 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; risks related to data and information security
vulnerabilities; the ability to meet financial and operational
challenges encountered in our international operations; ineffective
management of, and control over, the Company's growth and
international operations; 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 and Red Hat Enterprise Linux are trademarks or
registered trademarks of Red Hat, Inc. or its subsidiaries in the
U.S. and other countries. Linux® is the registered trademark of
Linus Torvalds in the U.S. and
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Red Hat, Inc.Emily Stancil Martinez,
+1-919-301-3010emartinez@redhat.com
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