Intel’s $7.68 billion acquisition of computer security company McAfee is now one step closer to being completed having received the necessary regulatory approval from the Federal Trade Commission earlier this week. The Santa Clara-based chip maker is now awaiting European Commission’s approval so it can close the transaction, which it hopes to do in early 2011.
"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," said Kevin Sellers, vice-president for investor relations, in a statement.
According to a recent Wall Street Journal report, the deal could come under heavy antitrust scrutiny after EU investigators expressed concerns about the deal in a preliminary review. Their main concern is that Intel’s plan to put security features directly in its chips could put McAfee’s rivals at a severe disadvantage.