Intel to acquire McAfee for $7.68 billion
In a surprise move, Intel has announced it intends to acquire well-known security company McAfee. McAfee is best known to consumers for its range of security suites including Total Protection, Internet Security, and Antivirus Plus offerings. The security firm also caters for small, medium, and enterprise business customers through a range of products and services.
The deal will see Intel purchase all McAfee common stock at a price of $48 per share in cash. In total that equates to a cost of $7.68 billion for the chip giant.
Intel has explained it decided to acquire McAfee as security has now elevated so much in importance within the computing sector. The company see security as of equal importance with energy efficiency and connectivity in its core business.
Paul Otellini, Intel president and CEO
With the rapid expansion of growth across a vast array of Internet-connected devices, more and more of the elements of our lives have moved online. In the past, energy-efficient performance and connectivity have defined computing requirements. Looking forward, security will join those as a third pillar of what people demand from all computing experiences.McAfee will work as a wholly-owned subsidiary reporting to Intel’s Software and Services Group. Otellini has also made it clear there is going to be a focus on security that is enhanced by hardware.