European antitrust regulators have approved a planned joint venture by UK-based chip designer ARM and smart card and security companies Gemalto and Giesecke & Devrient.
The three companies announced the proposed joint venture in April, planning to develop and market products that can enhance the security of applications that run on smartphones and other devices, such as mobile payment on NFC phones.
The European Commission in an announcement this week said it had initial concerns that the joint venture “could have enabled ARM to shut out competitors.”