Broadcom’s $61 Billion Deal to Purchase VMware Gets Cleared by EU Regulators

Computer chip and software maker Broadcom’s $61 billion proposed purchase of cloud technology company VMware got the green light Wednesday from European Union regulators who were satisfied by concessions to ease competition concerns.

The European Commission, the EU’s executive arm and top antitrust enforcer, said Broadcom made comprehensive commitments to provide access and system connections to its only existing rival, Marvell, as well as any other potential future competitors.

The commission said the concessions mean the deal “would no longer raise competition concerns.” The approval from the 27-nation bloc is conditional on Broadcom living up to its commitments for 10 years, with an independent trustee monitoring compliance.

Read the source article at U.S. News