French conglomerate Atos Origin won EU regulatory approval on Friday to purchase Siemens’ IT unit Solutions and Services for 850 million euros, in a deal to boost its European presence.
Siemens said in December last year the deal would have a considerable negative impact on earnings in the fiscal year 2011.
The European Commission, the EU competition watchdog, said in a statement the transaction would not raise any competition concerns in the region.
“After examining the operation, the commission concluded that the transaction would not significantly impede effective competition,” the commission, which holds antitrust powers within the European Union, said in a statement.
It said the companies would have a combined market share of about 5 percent, and have not generally been active in the same countries.
The combined group would also continue to face strong competitors with significant market shares, as well as potential new competitors from emerging markets.