Red Hat has ranked in at number 4 on Forbes magazine’s list of “The World’s Most Innovative Companies.”
Forbes recognised Red Hat as one of the world’s most innovative companies because “the idea of transparency and collaboration infuse the entire business,” it was said.
“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 capitalisation. 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.”