hat: The deal, which had an enterprise value of about 34 billion, closed in early July, according to Market Watch. Don't miss Analysts bet surge of cloud M&A' could follow IBM/Red Hat How much the company is willing to say about the deal on its upcoming conference call remains an open question, however, due to a strange set of circumstances. As IBM IBM, 0.41% tries to reduce its reliance on legacy businesses, it's looking to Red Hat's hybrid-cloud revenue stream to jolt growth, and investors will be trying to gauge the magnitude and timing of this impact when IBM delivers its Wednesday earnings report. IBM also plans to host an investor briefing on Aug. 2, two weeks after its earnings report, when it will update its outlook to reflect the addition of Red Hat. Given the proximity of these two events, Evercore ISI analyst Amit Daryanani wrote that the widely held expectation is for IBM's upcoming results and outlook to be a nonevent. The company has stated that the outlook it plans to deliver in its earnings report will exclude projected Red Hat impacts.
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