Regulators in the European Union have cleared Intel's $7.68 billion takeover of McAfee Inc., removing the last major hurdle in what will be the chipmaker's largest deal on record. Intel agreed to allow its products to work with other computer security software as a condition of the decision by the European Commission.
Intel expects to close the acquisition by the end of the first quarter, according to Reuters. The acquisition will enable Intel to bolster the security of Internet-connected devices. The company said rival security companies will have access to all the necessary information to enable their products to use Intel's chips and CPUs. Intel has also pledged not to block competitors' security solutions from running on its products, and to avoid hampering operation of McAfee products on PCs with hardware from Intel rivals.
"We believe the agreement addresses the concerns of the Commission, meanwhile allowing Intel and McAfee to continue to innovate in the critical area of security," said Intel spokesman Chuck Mulloy.
"The commitments submitted by Intel strike the right balance, as they allow preserving both competition and the beneficial effects of the merger," EU Competition Commissioner Joaquin Almunia said in a statement.
Intel got the green light from the U.S. Federal Trade Commission on Dec. 21. McAfee is the number two maker of security software behind Symantec Corp., while Intel's processors are used in 80 percent of the world's PCs. Intel shares were up 1.4 percent at $21.85 in afternoon trading, while McAfee shares rose 0.5 percent to $47.96, near the $48 per share in cash that Intel will lay out in the acquisition.
Want to learn more about the latest in communications & technology? Then be sure to attend ITEXPO East 2011, taking place Feb 2-4, 2011, in Miami. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.
TechZone360 Contributing Editor
Antivirus software is not enough. Apex Technology Services used its decades of IT and cybersecurity
experience to create budget-friendly network security packages every company needs.
Please take a moment to fill out your information so we can contact you directly regarding your request.
Cybercrimes are continually on the rise, bringing more threats to organizations in the pandemic than before.
Statistics show that as early as March…
As cryptocurrency continues to grow, more and more people are getting in on the action. But is it worth mining? Click here to find out more.
Financial freedom may increase more efficiently with digital currency than ever before. The consequences of this are profound.
Millions of people …
The State of Louisiana's LA Wallet app will soon allow users to upload not only digital driver's licenses and COVID-19 vaccination status, but also hu…
A California judge ruled that Apple has not been proven to be a monopoly, but is participant in anti-competitive practices within the company's digita…