RedHat,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.
“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.”
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
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.
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