IBM gets EU nod to acquire Red Hat


American software and tech giant, International Business Machines Corp., IBM, has received approval to acquire Red Hat.

The EU competition commission said it okayed the acquisition because the deal will not hamper the company’s competition.

The approval comes from the EU antitrust body for IBM to buy Red Hat for a transaction value of $34 billion.

The Red Hat acquisition will perhaps be IBM’s biggest deal to increase its revenue with the subscription software side of its business.

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