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Red Hat Acquires E-Commerce Software Firm

Linux software distributor Red Hat Inc. Wednesday purchased e-commerce payment processor Hell's Kitchen Systems in a stock deal valued at $85.6 million.

Red Hat (RHAT) will exchange up to 398,335 shares of common stock for all outstanding Hell's Kitchen shares.

Red Hat said the deal will add e-commerce payment processing software to its product lineup. Already, more than 150 Internet providers use HKS' payment processing software.

"Red Hat's global reach and brand recognition delivers HKS' e-commerce software to the open source servers running the world's Internet infrastructure," said Matthew Szulik, Red Hat's president and chief executive officer.

The acquisition expands Red Hat's effort to help businesses migrate applications to the Internet and a wider variety of Internet-enabled appliances. The deal comes after Red Hat's November purchase of Cygnus Solutions. Cygnus makes tools to develop software for desktop and client/server systems.



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