Forbes Magazine Rates Red Hat 4th Most Innovative Company in United States and the World
Dubai ,United Arab Emirates: Red Hat, Inc. (NYSE: 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.”
“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.”
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/.
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.
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