Red Hat announces that the company for the fourth time has made evident space in Forbes’ “World’s Most Innovative Companies” list. The open-source major claims to be ranked 25th among the most innovative company in the world.
Consistently disrupting the enterprise software space through its business solution, the company today pioneers in open-source software integrating cloud computing and Linux containers, to mobile, big data, and beyond
According to Forbes, “The World’s Most Innovative Companies list consists of firms that investors feel are most likely to come up with the next big innovation. Companies are ranked by their innovation premium: the difference between their market capitalization and the net present value of cash flows from existing businesses (based on a proprietary algorithm from Credit Suisse HOLT).”
Elated on the recognition, Jim Whitehurst, president and CEO, Red Hat said, “It is always an honor to see Red Hat’s name on this list. Today, open source is a default choice for innovation, and more than 90 percent of Fortune 500 companies rely on Red Hat’s enterprise open source solutions. This recognition by Forbes is a tribute to not only Red Hat associates around the world, but also to the open source communities that are driving community-powered innovation.”
Earlier the company is sought to have well-managed in this category in (2012, 2014, 2015). The company is cited to be the only open source software company on Forbes’ 2016 list.