Intel offers concessions to win EU approval of McAfee buy
- — 07 January, 2011 00:35
Intel has made certain commitments to the European Union in an effort to push ahead with its proposed acquisition of McAfee.
Last August the two tech giants signed a binding plan of merger that would see the world's largest chip maker pay approximately US$7.7 billion for the security company. However the European Commission was concerned that Intel's plan to give McAfee access to its chip architecture would breach the E.U.'s strict competition rules and launched an investigation.
The Commission has sent questionnaires to various security companies that compete with McAfee, asking for their opinions amid fears that Intel could build security functions into its chips that would only work with McAfee products. On Thursday, however, Intel proposed remedies to the Commission in an effort to avoid a longer four-month probe.
Neither party has revealed details of the commitments made, but the Commission has extended its decision deadline to Jan. 26. The deal has already been approved in the U.S.