Intel is planning to acquire McAfee for roughly $7.68 billion in a bid to extend its ability to offer security to customers.
Intel has signed a definitive agreement to acquire security giant McAfee for
approximately $7.68 billion.
If completed, McAfee would become a wholly owned subsidiary of Intel and would
report to Intel's Software and Services Group. For Intel, bringing McAfee into
the fold continues with the company's plans around software, explained
Ren??Â«e James, Intel senior vice president and general manager of the Software
and Services group, in a statement.
"This acquisition is consistent with our software and services strategy
to deliver an outstanding computing experience in fast-growing business areas,
especially around the move to wireless mobility," she said. "McAfee
next step in this strategy, and the right security partner for us. Our
current work together has impressive prospects, and we look forward to
introducing a product from our strategic partnership next year."
According to Intel CEO Paul Otellini, the
growth of Internet-connected devices has moved more and more elements of
people's lives online. In the past, energy-efficient performance and
connectivity have "defined computing requirements," he said in a
statement. Looking ahead, security will be a key factor of what people demand
from all their computing experiences, he added.
"The addition of McAfee products and technologies into the Intel
computing portfolio brings us incredibly talented people with a track record of
delivering security innovations, products and services that the industry and
consumers trust to make connecting to the Internet safer and more secure,"
McAfee is just coming off two acquisition announcements of its own. The
company closed on a deal to buy Trust Digital earlier this summer, and also
announced plans recently to buy mobile
security vendor tenCube. Founded in 1987, McAfee raked in approximately $2
billion in revenue in 2009, and has roughly 6,100 employees.
"The cyber threat landscape has changed dramatically over the past few
years, with millions of new threats appearing every month," said Dave
DeWalt, president and CEO of McAfee, in a
statement. "We believe this acquisition will result in our ability to
deliver a safer, more secure and trusted Internet-enabled device experience."