Singapore-based chipmaker Broadcom is set to win EU antitrust approval for its $5.5 billion bid for Brocade after agreeing to modest concessions in the latest consolidation deal in the chip sector, three people familiar with the matter said on Tuesday.
Broadcom, formerly Avago Technologies, is known for its connectivity chips used in products ranging from mobile devices to servers, while California-based Brocade makes networking switches, software and storage products.
The sector has seen a wave of consolidation in recent years as chipmakers scale up in response to the growing market in connected devices and cars.
Broadcom, which wants to grab a larger share of the data center products market via the deal, offered concessions last month in a bid to address the European Commission’s concerns.
The Commission, which sought feedback from third parties, is expected to clear the deal by its scheduled May 12 deadline, according to the sources.
Full Content: Fortune
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Biden Administration Supports Antitrust Suit Against FIFA
Mar 18, 2024 by
CPI
Apple in Talks to Incorporate Google’s Gemini AI Amid Antitrust Scrutiny
Mar 18, 2024 by
CPI
Appeals Court Revives Regeneron’s Antitrust Lawsuit Against Novartis Over Vision Treatment
Mar 18, 2024 by
CPI
Apple Responds to Criticism Over EU’s Digital Markets Act Compliance
Mar 18, 2024 by
CPI
Turkey Imposes Interim Measures on Meta Platforms
Mar 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Pricing Algorithms
Feb 28, 2024 by
CPI
Pricing Algorithms and Antitrust Enforcement: Sandboxes to the Rescue?
Feb 28, 2024 by
CPI
AI, Algorithmic Pricing, and Collusion
Feb 28, 2024 by
CPI
Competition & Collusion in a World of Algorithmic Pricing: Antitrust Risks & Enforcement Trends
Feb 28, 2024 by
CPI
Pricing Algorithms in Antitrust’s Sights?
Feb 28, 2024 by
CPI