On November 8th, 2018, Amalgam Insights analysts Tom Petrocelli and Hyoun Park attended the Red Hat Analyst Day in Boston, MA. We had the opportunity to visit Red Hat’s Boston office in the rapidly-growing Innovation District, which has become a key tech center for enterprise technology companies. In attending this event, my goal was to learn more about the Red Hat culture that is being acquired as well as to see how Red Hat was taking on the challenges of multi-cloud management.
Throughout Red Hat’s presentations throughout the day, there was a constant theme of effective cross-selling, growing deal sizes including a record 73 deals of over $1 million in the last quarter, over 600 accounts with over $1 million in business in the last year, and increased wallet share year-over-year for top clients with 24 out of 25 of the largest clients increasing spend by an average of 15%. The current health of Red Hat is undeniable, regardless of the foibles of the public market. And the consistency of Red Hat’s focus on Open Source was undeniable across infrastructure, integration, application development, IT automation, IT optimization, and partner solutions, which demonstrated how synchronized and focused the entire Red Hat executive team presenters were, including