The news that CentOS joins the Red Hat family is actually good news, and in many ways underpins the benefits of being open source.
What CentOS has always given to Red Hat, is the power of collaboration to make it's product better. What this deal means, is that now almost all the work of putting those collaboration efforts now can be made under the same roof with official support.
I hope that this deal makes CentOS better, since Fedora is a good example that the deal could be beneficial not only for the parties directly involved. If all goes smoothly, it should be beneficial for the open source community at large.
Any way, Red Hat could keep CentOS free and still make a profit.
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