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

Key Points
  • IBM is looking to the deal, its biggest to date, to expand its subscription-based software offerings.
Ginni Rometty, CEO of IBM on Mad Money to discuss IBM's acquisition of Redhat.
Adam Jeffery | CNBC

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.