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Intel to purchase McAfee at $48 per share

Deal valued at over $7.5 billion

| Business, Financial & Legal News | Posted: Aug 19, 2010 4:00 pm

Intel and McAfee are two companies that most are familiar with. Intel is the largest maker of processors in the world and McAfee is one of the largest PC security companies around with antivirus software and more. Intel has announced that it plans to purchase McAfee at $48 per share in cash. The value of the deal is about $7.68 billion.

 

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The purchase will allow Intel to offer a combination of software and hardware that will be able to better protect customers when they go online. Intel claims that the purchase will also improve its mobile wireless strategy. Presumably, that means more security for mobile devices like MIDs and smartphones as Trojans and other attacks become more common on these devices.

 

Intel reports that its board of directors and the McAfee board unanimously approved the buyout. However, the deal is still subject to other customary conditions. Those conditions include the approval of McAfee shareholders, regulatory clearances, and other specifics in the purchase agreement.

 

"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," said Paul Otellini, Intel president and CEO. "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."

 

NEWS SOURCE
Newsroom.intel.com

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