FTC clears £5bn Intel acquisition of McAfee


FTC clears £5bn Intel acquisition of McAfee

Jenny Williams

The Federal Trade Commission (FTC) in the US has approved Intel's $7.7bn (£5bn) acquisition of security software giant, McAfee.

Intel's Kevin Sellers, vice-president for investor relations, said in a statement, "The Federal Trade Commission has concluded its review of the proposed McAfee transaction and has cleared it. We are continuing to work with the staff at the European Commission as they continue their review."

European regulators may still investigate Intel's McAfee acquisition following anti-competition concerns.

The European Union expressed concerns about Intel's plans to embed security features directly into its microprocessors following its $7.7bn acquisition of McAfee earlier this year, according to the Wall Street Journal (WSJ).

A possible investigation could delay the deal. Initially, Intel said it expected to close the deal in the first quarter of next year, or even by the end of 2010. However, a statement on its website said it now hopes to close the deal in the first half of 2011.

In May 2009, the European Commission fined Intel $1.45bn for violating antitrust legislation, after complaints from Intel rival Advanced Micro Devices led to an investigation. Intel appealed the findings.

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