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
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