[hectormalot]

Eg look at the acquisition of Anheuser Busch by InBev.

AB was a profitable company, but InBev is just very good at efficiency in brewing. IIRC they paid handsomely above market price at the time and were able to translate their efficiency to AB in such a way that the combined reduction in cost and uptake in revenue creates value net/net for InBev (and therefore AB)

[kpil]

But what is IBM truly good at that can be applied at Redhat? A lethal legal department? Super efficient HR processes? Office supplies management?

I doubt something in engineering and sales? Or perhaps sales is the closest answer.

[awad]

Procuring large contracts from enterprise and government. It's pretty handy in business.

[canhascodez]

"Nobody ever got fired for buying IBM", is what they used to say. IBM has 100 years of brand-name recognition going for them. They have to be doing something right.