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23 December 2010, 10:36

FTC gives its blessing to Intel's acquisition of McAfee

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McAfee Logo The US Federal Trade Commission (FTC) has given its blessing to Intel's proposed takeover of security services provider McAfee. In an Investor News post, Intel Investor Relations VP Kevin Sellers stated that, "The Federal Trade Commission has concluded its review of the proposed McAfee transaction and has cleared it". Sellers also notes that his company is currently working with the European Commission as it continues its review.

Intel Logo The world's largest chip maker announced that it had agreed to purchase all of McAfee's common stock for $48 per share, valuing the cash deal at a total of approximately $7.68 billion (approximately £4.97 billion), in mid-August of this year. Both the Intel and McAfee boards of directors have already "unanimously approved the deal".

Intel says that the deal is intended to increase its security services and notes that, inside the company, it has "elevated the priority of security to be on par with its strategic focus areas in energy-efficient performance and Internet connectivity." Intel added however, that it is likely the acquisition will reduce its net earnings in the first year.

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