Red Hat has signed a definitive agreement to buy open-source Java software vendor JBoss for about US$350 million in cash and stock, Red Hat announced Monday.The surprise move follows speculation that database vendor Oracle had been in talks to buy JBoss, which is best known for its Java application server software. That deal reportedly foundered because the companies were unable to agree on an acquisition price.Red Hat said it expects to close the acquisition of JBoss by about the end of May. The deal is subject to regulatory approval and other closing conditions. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe Along with $350 million in cash and stock, Red Hat will pay an additional $70 million if JBoss meets certain performance goals, it said. Red Hat, which is known for its Linux distribution, has been working hard to move up the server software stack by offering other open-source products. It had already been distributing a version of the ObjectWeb consortium’s Java application server, called Jonas.The companies plan to hold a webcast for press and analysts at 9:15 a.m. Eastern U.S. time to discuss the deal in detail. -James Niccolai, IDG News ServiceFor related news coverage, read Red Hat Doffs Fedora Foundation.Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content opinion The changing face of cybersecurity threats in 2023 Cybersecurity has always been a cat-and-mouse game, but the mice keep getting bigger and are becoming increasingly harder to hunt. By Dipti Parmar Sep 29, 2023 8 mins Cybercrime Security brandpost Should finance organizations bank on Generative AI? Finance and banking organizations are looking at generative AI to support employees and customers across a range of text and numerically-based use cases. By Jay Limbasiya, Global AI, Analytics, & Data Management Business Development, Unstructured Data Solutions, Dell Technologies Sep 29, 2023 5 mins Artificial Intelligence brandpost Embrace the Generative AI revolution: a guide to integrating Generative AI into your operations The CTO of SAP shares his experiences and learnings to provide actionable insights on navigating the GenAI revolution. By Juergen Mueller Sep 29, 2023 4 mins Artificial Intelligence feature 10 most in-demand generative AI skills Gen AI is booming, and companies are scrambling to fill skills gaps by hiring freelancers to make the most of the technology. These are the 10 most sought-after generative AI skills on the market right now. By Sarah K. White Sep 29, 2023 8 mins Hiring Generative AI IT Skills Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe