Intel took a step closer to acquiring data security firm McAfee Inc. on Wednesday after EU regulators approved the $7.68 billion deal on condition Intel grant rival firms access to its technology.
World No. 1 chipmaker Intel secured clearance from the U.S. Federal Trade Commission on December 21 to acquire McAfee, the world's No. 2 maker of security software, a deal that will be Intel's largest acquisition to date. The decision by the European Commission, the EU competition watchdog, confirmed a Reuters report on January 20.
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 on Wednesday.
Intel agreed to ensure that rival security firms have access to all necessary information that would allow their products to use Intel's chips and central processing units, the Commission said.
The company also pledged not to actively block competitors' security solutions from running on its products. It will avoid hampering the operation of McAfee's products when these are used in personal computers containing products sold by Intel's rivals.
(Reporting by Foo Yun Chee; Editing by Louise Heavens)