IBM reports <https://www.theregister.co.uk/2019/10/17/ibm_q3_2019_financials/> that its Red Hat division has been doing quite nicely since it was acquired. This is in contrast to the rest of the company, which seems to be continuing its long, slow downward slide. I have seen mention elsewhere of economic studies that show that, on average, corporate mergers and acquisitions tend to destroy value rather than create it (e.g. the all-too-common scenario of “big company buys small company and then drives away its customers and shuts it down”). The realization of actual “synergies” seems to be the exception rather than the rule. Maybe IBM will continue jettisoning its other parts, and end up being just Red Hat in all but name...