FILE PHOTO: A man stands near an IBM logo at the Mobile World Congress in Barcelona, Spain, February 25, 2019. REUTERS/Sergio Perez/File Photo
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.
Reporting by Foo Yun Chee; Editing by Alissa de Carbonnel