IBM gains unconditional EU approval for $34 billion Red Hat deal
Reuters
Published Jun 27, 2019 14:20
Updated Jun 28, 2019 10:01
BRUSSELS (Reuters) - U.S. tech giant International Business Machines Corp (N:IBM) on Thursday won unconditional EU antitrust approval for its $34 billion (27 billion pounds) acquisition of software company Red Hat (N:RHT).
IBM is looking to the deal, its biggest to date, to expand its subscription-based software offerings to counter falling software sales and declining demand for mainframe servers.
The European Commission said in a statement that it had concluded the transaction would raise no competition concerns. Reuters reported on June 19 that the deal would get the go-ahead.
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Written By: Reuters
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