June 27, 2019 / 1:16 PM / 19 days ago

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

BRUSSELS, June 27 (Reuters) - U.S. tech giant International Business Machines Corp on Thursday won unconditional EU antitrust approval for its $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. (Reporting by Foo Yun Chee Editing by Alissa de Carbonnel)

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