Intel to acquire McAfee in $7.68 billion deal

In a move that will no doubt shock some, Intel has agreed to acquire McAfee for a whopping $7.68 billion.

Deal

Intel is to acquire McAfee for around $7.68 billion (4.9 billion) in an agreement that will make the security giant a wholly-owned subsidiary.

The deal will see Intel buy all of the security company's common stock at $48 per share after both boards unanimously approved the agreement.

Intel said the purchase is reflective of the growing importance of security in online computing - an area that needs improving to provide more complete protection.

"In the past, energy-efficient performance and connectivity have defined computing requirements," said Paul Otellini, Intel president and chief executive.

"Looking forward, security will join those as a third pillar of what people demand from all computing experiences."

Otellini said the acquisition will bring some "incredibly talented people" into the Intel fold along with a range of popular security products, including McAfee Antivirus, McAfee Total Protection and McAfee Firewall.

Around 6,100 employees from McAfee will now be under the wing of a new owner.

McAfee will be placed in Intel's Software and Services Group, which is managed by Renee James, Intel senior vice president.

"Hardware-enhanced security will lead to breakthroughs in effectively countering the increasingly sophisticated threats of today and tomorrow," James said.

"Our current work together has impressive prospects, and we look forward to introducing a product from our strategic partnership next year."

The pair will also collaborate on product concepts that will cover the range of security that is required in the modern day world.

Intel has been busy acquiring firms recently, and just this week agreed to purchase Texas Instruments' cable modem division.

Featured Resources

BCDR buyer's guide for MSPs

How to choose a business continuity and disaster recovery solution

Download now

The definitive guide to IT security

Protecting your MSP and your customers

Download now

Cost of a data breach report 2020

Find out what factors help mitigate breach costs

Download now

The complete guide to changing your phone system provider

Optimise your phone system for better business results

Download now

Recommended

Intel buys data science startup Cnvrg.io
artificial intelligence (AI)

Intel buys data science startup Cnvrg.io

4 Nov 2020
Data breach exposes widespread fake reviews on Amazon
data breaches

Data breach exposes widespread fake reviews on Amazon

7 May 2021
TsuNAME vulnerability could enable DDoS attacks on major DNS servers
distributed denial of service (DDOS)

TsuNAME vulnerability could enable DDoS attacks on major DNS servers

7 May 2021
What are SSH keys?
cyber security

What are SSH keys?

7 May 2021

Most Popular

KPMG offers staff 'four-day fortnight' in hybrid work plans
flexible working

KPMG offers staff 'four-day fortnight' in hybrid work plans

6 May 2021
16 ways to speed up your laptop
Laptops

16 ways to speed up your laptop

29 Apr 2021
How to move Windows 10 from your old hard drive to SSD
operating systems

How to move Windows 10 from your old hard drive to SSD

30 Apr 2021