2.41 AM Wednesday, 27 September 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:52 06:06 12:13 15:36 18:14 19:27
27 September 2023 $dmi_content.escapeHtml4($rs.get('weather.code.w${report.significantWeather.code}')) Max: 38 °

Red Hat sees $1bn revenues by end-2011

By Staff

Red Hat, US-based leading provider of open source solutions, revenues are expected to reach close to $900 million in 2010 and likely to cross $1 billion mark in the next year financial year, a senior company official said in Dubai on Tuesday.

Werner Knoblich, General Manager for Europe, Middle East and Africa, said the company is growing faster in the Middle East and Africa region at 28 per cent year-on-year as against 20 per cent worldwide. The revenues are expected to be “a little shy of $900 million” in 2010 and “next year we hope to cross $1 billion.” Its revenues totalled $652.6 million during 2009 financial year.

The company is financial on a sound footing and currently has $1 billion cash, said Knoblich.

Red Hat is an S&P 500 company headquartered in Raleigh, North Carolina with over 65 offices spanning the globe. It recently acquired a company called Makara which develops, deploys and manages applications in the cloud. It has approximately 300 partners in the region.

It solutions have been deployed at large corporates across the region including Emirates airline, Dubai’s Roads and Transport Authority, Saudi Aramco and many others.

Knoblich said operating system Unix is declining and the companies are migration away to open source Linux as they don’t want to be locked-in. Similarly, Oracle chain is too big and customers don’t want to be dependent on a single supplier because replacing database and applications becomes pretty expensive. “But the UAE is less on Unix side and more on Microsoft side,” he added.

Anuj Kumar, General Manager for Middle East and Africa, Red Hat, said he the firm will increase staff strength on the technical solutions side.