Red Hat Recognized by Forbes as One of the World's Most Innovative Companies
Released on: August 26, 2015, 8:25 am
Dubai, UAE, August 26, 2015 -- /EPR NETWORK/ -- Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced that it has once again been named to Forbes' list of the “World's Most Innovative Companies.” Red Hat was ranked at 26 on the list, which recognizes a total of 100 companies from around the world. It is the third time Red Hat has been honored by Forbes.
The list of the World's Most Innovative Companies is compiled using “...investors' ability to identify firms they expect to be innovative now and in the future.” Companies are ranked based on Forbes' “Innovation Premium,” which, according to the publication, “is calculated first by projecting a company’s income (cash flows, in this case) from its existing businesses and looking at the net present value (NPV) of those cash flows.” Forbes compares this base value with companies' current Enterprise Value (EV). Companies with an EV above the base value have an innovation premium built into their stock price.
Jim Whitehurst, president and CEO, Red Hat
“It's an honor to be named to Forbes' World's Most Innovative Companies for the third time, especially as this year's list continues to highlight the innovation powering companies across all industries, not just technology. It is this same commitment to innovation that drives Red Hat and has been key to the success of both our open source products and our business at-large, proving the continued adaptability and viability of our model in the ever-changing business world.”
About Red Hat, Inc.
Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to 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.
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 effects of industry consolidation; the integration of acquisitions and the ability to market successfully acquired technologies and products; 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; ineffective management of, and control over, the Company's growth and international operations; fluctuations in exchange rates; 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.
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Contact-Details: Colin Saldanha
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