IBM Buys Linus Torvalds
IBM CEO, Samuel Palmisano, announced at 12:01 am EDT that IBM has completed the purchase of Linux kernel creator Linus Torvalds for $4.6 Billion in cash and stock. This unprecedented human purchase by a corporation is being met with shock and surprise within the Linux and IT communities. Palmisano said that IBM was the "highest bidder" in a bitter battle for Torvalds.
Ron Hovespian, Novell CEO, stopped bidding on behalf of Novell, Inc. at $2.6 Billion. "We just couldn't justify a higher price during these already stressful and uncertain times--even for someone as important as Linus Torvalds." Novell and Hovespian made an unsuccessful bid for Richard Stallman earlier this year.