600 employees from the N.C. State Centennial Campus to the Two Progress Plaza building. A ribbon cutting ceremony was held June 24, 2013, in the re-branded Red Hat Headquarters. In 2012, Red Hat became the first one-billion dollar open-source company, reaching in annual revenue during its fiscal year. Red Hat passed the $2 billion benchmark in 2015. the company's annual revenue was nearly $3 billion. On October 16, 2015, Red Hat announced its acquisition of IT automation startup Ansible, rumored for an estimated US$100 million. In June 2017, Red Hat announced Red Hat Hyperconverged Infrastructure (RHHI) 1.0 software product In May 2018, Red Hat acquired CoreOS. IBM subsidiary On October 28, 2018, IBM announced its intent to acquire Red Hat for US$34 billion, in one of its largest-ever acquisitions. The company will operate out of IBM's Hybrid Cloud division. Six months later, on May 3, 2019, the US Department of Justice concluded its review of IBM's proposed Red Hat acquisition, and according to Steven J. Vaughan-Nichols "essentially approved the IBM/Red Hat deal". The acquisition was closed on July 9, 2019. Fedora Project Red Hat is primary sponsor of Fedora Project, a community-supported free software project that aims to promote the rapid progress of free and open-source software and content. Business model Red Hat operates on a business model based on open-source software, development within a community, professional quality assurance, and subscription-based customer support. They produce open-source code so that more programmers can make adaptations and improvements. Red Hat sells subscriptions for the support, training, and integration services that help customers in using their open-source software products. Customers pay one set price for unlimited access to services such as Red Hat Network and up to 24/7 support. In September 2014, however, CEO Jim Whitehurst announced that Red Hat was "in the midst of a major shift from client-server to cloud-mobile". Rich Bynum, a member of Red Hat's legal team, attributes Linux's success and rapid development partially to open-source business models, including Red Hat's. Programs and projects One Laptop per Child Red Hat engineers worked with the One Laptop per Child initiative (a non-profit organization established by members of the MIT Media Lab) to design and produce an inexpensive laptop and try to provide every child in the world with access to open communication, open knowledge, and open learning. The XO-4 laptop, the last machine the project produced (in 2012), runs a