IBM to secure unconditional EU approval for $34 billion Red Hat deal: Report | HT Tech

IBM to secure unconditional EU approval for $34 billion Red Hat deal: Report

IBM is seeking to expand its subscription-based software offerings via the deal, its biggest to date, to counter slowing software sales and waning demand for mainframe servers.

By: REUTERS
| Updated on: Jun 20 2019, 14:36 IST
The deal would also help it catch up with Amazon, Alphabet Inc and Microsoft in the fast growing cloud computing business.
The deal would also help it catch up with Amazon, Alphabet Inc and Microsoft in the fast growing cloud computing business. (REUTERS)
The deal would also help it catch up with Amazon, Alphabet Inc and Microsoft in the fast growing cloud computing business.
The deal would also help it catch up with Amazon, Alphabet Inc and Microsoft in the fast growing cloud computing business. (REUTERS)

US tech giant International Business Machines Corp is set to secure unconditional EU approval for its $34 billion bid for software company Red Hat, people familiar with the matter said on Wednesday.

IBM is seeking to expand its subscription-based software offerings via the deal, its biggest to date, to counter slowing software sales and waning demand for mainframe servers.

It would also help it catch up with Amazon, Alphabet Inc and Microsoft in the fast growing cloud computing business.

The European Commission, which is scheduled to decide on the deal by June 27, and IBM declined to comment.

Founded in 1993, Red Hat specialises in Linux operating systems, the most popular type of open-source software and an alternative to proprietary software made by Microsoft.

US regulatory authorities gave the green light to the deal last month without demanding concessions.

Follow HT Tech for the latest tech news and reviews , also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 20 Jun, 14:36 IST
NEXT ARTICLE BEGINS