EU regulators to rule on IBM's bid for Red Hat by June 27
The $34 billion deal, if approved, will help expand IBM’s subscription-based software business
IBM will know by June 27 whether its acquisition bid for Red Hat clears EU antitrust regulators, Reuters has reported.
The $34 billion deal, if approved, will help expand IBM’s subscription-based software business, the new gravy train for IT vendors. IBM said on Tuesday it had sought EU approval the previous day. The European Commission confirmed the request, Reuters said.
Founded in 1993, Red Hat specialises in open-source Linux operating systems, an increasingly lucrative alternative to proprietary software made by Microsoft, especially in emerging technologies.
The EU competition enforcer can either clear the deal with or without conditions or it can open a full-scale investigation. U.S. regulatory authorities approved the deal without demanding concessions earlier this month.