Intel McAfee Takeover Gets Green Light from EU

By

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.




Edited by Janice McDuffee

TechZone360 Contributing Editor

SHARE THIS ARTICLE
Related Articles

Coding and Invention Made Fun

By: Special Guest    10/12/2018

SAM is a series of kits that integrates hardware and software with the Internet. Combining wireless building blocks composed of sensors and actors con…

Read More

Facebook Marketplace Now Leverages AI

By: Paula Bernier    10/3/2018

Artificial intelligence is changing the way businesses interact with customers. Facebook's announcement this week is just another example of how this …

Read More

Oct. 17 Webinar to Address Apache Spark Benefits, Tools

By: Paula Bernier    10/2/2018

In the upcoming webinar "Apache Spark: The New Enterprise Backbone for ETL, Batch and Real-time Streaming," industry experts will offer details on clo…

Read More

It's Black and White: Cybercriminals Are Spending 10x More Than Enterprises to Control, Disrupt and Steal

By: Cynthia S. Artin    9/26/2018

In a stunning new report by Carbon Black, "Hacking, Escalating Attacks and The Role of Threat Hunting" the company revealed that 92% of UK companies s…

Read More

6 Challenges of 5G, and the 9 Pillars of Assurance Strategy

By: Special Guest    9/17/2018

To make 5G possible, everything will change. The 5G network will involve new antennas and chipsets, new architectures, new KPIs, new vendors, cloud di…

Read More