Sunday, Feb 28, 2021 | Last Update : 09:48 PM IST

  Technology   In Other news  28 Jun 2019  IBM gains unconditional EU approval for USD 34 billion Red Hat deal

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

REUTERS
Published : Jun 28, 2019, 9:17 am IST
Updated : Jun 28, 2019, 9:17 am IST

IBM is looking to the deal, its biggest to date, to expand its subscription-based software offerings to counter falling software sales.

The European Commission said in a statement that it had concluded the transaction would raise no competition concerns.
 The European Commission said in a statement that it had concluded the transaction would raise no competition concerns.

US tech giant International Business Machines Corp on Thursday won unconditional EU antitrust approval for its USD 34 billion acquisition of software company Red Hat.

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.

Tags: ibm, red hat