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World No. 1 chipmaker Intel Corp will be given the go-ahead from the EU for its $16.7 billion bid for Altera Corp , its largest ever deal, two people familiar with the matter said on Friday. The U.S. company is looking to Altera to reinforce its portfolio of higher-margin chips used in data centers and to focus on chips for cars, watches and other devices in a future “Internet of Things.” The U.S. Department of Justice cleared the deal unconditionally last month while other agencies such as the Chinese are also looking at the bid. The European Commission will clear the deal without requiring concessions from Intel as it does not see any competition issues, the sources said.

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Fewer companies than Intel had expected replaced desktop PCs running on outdated Microsoft operating systems, leading to weak demand for its chips. Intel also cited “challenging” macroeconomic and currency conditions, particularly in Europe. Intel said on Thursday that it expected first-quarter revenue of $12.8 billion, plus or minus $300 million – about 7 percent lower than its earlier forecast of $13.7 billion, plus or minus $500 million. Though dominant in the market for chips used in PCs, Intel has been slower than rivals such as Qualcomm Inc to adjust in recent years to the growing popularity of laptops and tablets.