image credit: Flickr

IBM gains unconditional EU approval for $34 billion Red Hat deal

June 27, 2019

Via: Reuters

BRUSSELS (Reuters) – U.S. tech giant International Business Machines Corp (IBM.N) on Thursday won unconditional EU antitrust approval for its $34 billion acquisition of software company Red Hat (RHT.N).

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.

Read More on Reuters