FILE PHOTO: A man stands in the vicinity of an IBM logo at the Mobile World Congress in Barcelona, Spain, February 25, 2019 at the latest. REUTERS/Sergio Perez/Photo File
BRUSSELS (Reuters) – U.S. tech giant International Business Machines Corp’s (IBM.(N), on Thursday, has won unconditional EU antitrust approval for its $34 billion takeover of the software company Red Hat (RHT.(N).
IBM is looking for the deal, which is the largest to date, expanding the subscription-based software offerings to counter the declining sales of the software, and the decline in demand for mainframe servers as well.
The European Commission said in a statement that it had concluded the transaction, they would be out of the competition. Reuters reported on 19 June that the deal would get the go-ahead.
Reporting by Foo Yun Chee; Editing by Alissa de Carbonnel