The European Commission approved Nvidia Corp.'s proposed $6.9 billion acquisition of Mellanox Technologies Ltd.

The U.S. chipmaker will acquire its peer Mellanox Technologies through Nvidia International Holdings Inc., according to a regulatory filing.

The deal earlier secured clearance from regulators in Mexico. It remains subject to approval from the Anti-Monopoly Bureau of China's State Administration for Market Regulation, as well as customary closing conditions.