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.
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.
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)."
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."
- 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
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Über Red Hat
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 the 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.
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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; 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; 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 Annual Report on Form 10-K (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.