IBM’s purchase of Red Hat is a $33-billion bid aimed at catapulting the company into the ranks of the top cloud software competitors.

IBM has announced it will buy Red Hat, the world’s biggest Linux company, for $34-billion. That’s more than a quarter of IBM’s market capitalisation, and comes as the legacy computer giant tries to play catch-up in cloud computing.

South Africa’s recovery from corruption at its state-owned companies requires thorough reform and punishing those responsible, according to public enterprises minister Pravin Gordhan.