Red Hat Named One of the World's Most Innovative Companies
Forbes Magazine Rates Red Hat 4thMost Innovative Company in United States and the World
RALEIGH, N.C.--(BUSINESS WIRE)-- Red Hat, Inc. (NYS: RHT) , the world's leading provider of open source solutions, has been named to Forbes magazine's list of "The World's Most Innovative Companies." Red Hat ranked as the 4th most innovative company in both the United States and the world out of 100 companies. Forbes recognized Red Hat as one of the world's most innovative companies because "the idea of transparency and collaboration infuse the entire business."1
"Innovation is at the very core of Red Hat's DNA, whether you're talking about how we operate our business and manage our people, how we work with enterprises, partners, and the open source community to create better technologies, or how our customers are innovating using Red Hat solutions," explained Jim Whitehurst, president and Chief Executive Officer, Red Hat. "Forbes' recognition serves as great validation for the community-powered innovation we're helping to foster around the globe on a daily basis."
Forbes ranked companies using an "Innovation Premium" that measures cash flow, anticipated growth, and current market capitalization. To be included in the ranking, companies must have a market value greater than $10 billion, spend at least 2.5 percent of revenue on R&D, and have seven years of public financial data. According to Forbes, "How well companies leverage people, process, and philosophies differentiates the best in class from the next in class when it comes to keeping innovation alive and delivering an innovation premium year after year."2
The full list of the 2012 "World's Most Innovative Companies" can be found in the Sept. 5 issue of Forbes and online at http://www.forbes.com/innovative-companies/.
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Methodologyfor Forbes magazine's"World's Most Innovative Companies" rankings
The Ten Most Innovative Companies in America- Red Hat ranks #4
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About Red Hat, Inc.
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.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending; the effects of industry consolidation; the ability of the Company to compete effectively; uncertainty and adverse results in litigation and related settlements; the integration of acquisitions and the ability to market successfully acquired technologies and products; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; fluctuations in exchange rates; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.
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1Forbes, "The Ten Most Innovative Companies in America," Sept. 5, 2012, available at http://onforb.es/Sk2ZSY.
2Forbes, "How Innovative Leaders Maintain Their Edge," Sept. 5, 2012, available at http://onforb.es/OmNROF.
Red Hat, Inc.
Emily Stancil, 919-301-3010
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