Texas Instruments' (TXN) proposed acquisition of Silicon Laboratories (SLAB) has received clearance from Singapore's Competition and Consumer Commission, the agency said Friday.

The regulator said the deal is unlikely to substantially lessen competition as the companies are not each other's closest competitors and will continue to face competition from numerous global suppliers.

It also concluded the combined company is unlikely to have enough market power to foreclose rivals, it added.

The review covered wireless connectivity system-on-chips, non-wireless microcontroller units, power management integrated circuits, sensors and USB bridges.