50 On Wednesday, Cisco Systems (CSCO.O) received unconditional approval from EU antitrust regulators for its $28 billion acquisition of cybersecurity firm Splunk (SPLK.O). The European Commission stated that they did not identify any competition issues with the deal, which was announced last year and marks Cisco’s largest-ever acquisition. The aim of the acquisition is to bolster Cisco’s software business, particularly in the field of artificial intelligence, while also mitigating the impact of a post-pandemic slowdown in demand. The European Commission stated, “The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active, as there is a sufficient number of alternative players.” Additionally, the commission noted that the merged entity would not possess the ability to exclude competitors from the market. This approval comes following earlier reports by Reuters on March 5, which indicated that the deal would be cleared by the EU competition enforcer without any conditions. You Might Be Interested In Siemens to produce electric freight locomotives for Indian Railways Octopus Energy Explores Green Energy Project in Sierra Leone with Sherbro Alliance Partners Bankman-Fried Released on a $250 Million Bond Package Apple’s Tim Cook and Google’s Sundar Pichai Explored “Deep Partnership” in 2018, Raising Antitrust Questions GE Vernova’s Power Conversion Business Secures Contract for Singapore Navy’s Multi-Role Combat Vessel Program National Bank of Cambodia Collaborates with Ant International for Cross-Border Mobile Payments
