August 20, 2010

Intel to buy McAfee for $7.68 Billion


Intel McAfee

   On Thursday Intel Corporation (chip giant) announced that it will acquire McAfee for $7.68 Billion as the computer giant seek to expand its operation in the online market. Intel said it has entered into a definitive agreement to acquire McAfee, Inc., through the purchase of all of the company’s common stock at $48 per share in cash. Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement.

   The acquisition reflects that security is now a fundamental component of online computing. Today’s security approach does not fully address the billions of new Internet-ready devices connecting, including mobile and wireless devices, TVs, cars, medical devices and ATM machines as well as the accompanying surge in cyber threats. Providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services.

Inside Intel, the company has elevated the priority of security to be on par with its strategic focus areas in energy-efficient performance and Internet connectivity.

"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" Intel CEO Paul Otellini said in a statement. "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."

Intel McAfee

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