IBM has avoided receiving a fine from European Union antitrust authorities after concessions it offered to make were accepted.
As Reuters reports, IBM was being investigated by the European Commission over allegations that it was abusing its position in the mainframe computing business. However, the giant firm proposed to provide spare parts and technical information to companies which maintain its mainframe hardware and software by way of redressing any imbalance in the market.
The Commission has now accepted these terms, meaning that the matter is now closed. This will be a relief for IBM, as European antitrust investigations can result in companies being fined up to 10% of their annual turnover.
In the recent past, Microsoft and Intel have both faced significant fines, of $1.3bn and $1.45bn respectively. Meanwhile, Google is currently undergoing an investigation into whether it is abusing its position in the search market.