Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced that the company has been named one of the "World’s Most Innovative Companies" by Forbes magazine. Forbes named Red Hat the 12th most innovative company on its global list, and the eighth most innovative company in North America. Red Hat was one of only two enterprise IT systems software companies recognized by Forbes.
Forbes’ recognition of Red Hat as a top global innovator illustrates the power of open, community-driven innovation and the critical role that this movement will have on the future of technology, in the enterprise and beyond.
To be considered as one of the world’s most innovative companies by Forbes, "...companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from Credit Suisse HOLT). The difference between them is the bonus given by equity investors on the educated hunch that the company will continue to come up with profitable new growth." Additionally, organizations on the list must have seven years of financial data and at least a $10 billion market cap.
Jim Whitehurst, president and CEO, Red Hat
"At Red Hat, we take pride in catalyzing innovation as one of our business’s core building blocks, from how we engineer and develop products and work with upstream open source communities to how we manage our people and interact with partners. Forbes’ recognition of Red Hat as a top global innovator illustrates the power of open, community-driven innovation and the critical role that this movement will have on the future of technology, in the enterprise and beyond."
Read more about the "World’s Most Innovative Companies"
View the list of "The World’s Most Innovative Companies"
See the methodology behind the "World’s Most Innovative Companies" rankings
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About Red Hat
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 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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