Intel to buy McAfee for $7.68B

Intel to buy McAfee for $7.68B

Summary: The chipmaker has bought the anti-malware outfit in unexpected move into security software, saying the partnership will create breakthroughs in wireless mobility.

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Chip giant Intel has announced it is to buy security provider McAfee. The deal, which has been agreed by both boards of directors, is valued at US$7.68 billion.

The acquisition, announced on Thursday, will see Intel pay US$48 in cash for each McAfee share--more than 60 percent above its share price at close of market on Wednesday. The security company will become a wholly-owned subsidiary of the processor giant under the deal, which is subject to shareholder approval.

Intel said in a statement that the move "elevates focus on security on par with energy-efficient performance and connectivity. The acquisition augments Intel's mobile wireless strategy [...] Providing protection to a diverse online worlds requires a fundamentally new approach involving hardware, software and services".

Read more of "Intel to buy McAfee for $7.68bn" at ZDNet UK.

Topics: IT Employment, Apps, Hardware, Mobility, Security

Rupert Goodwins

About Rupert Goodwins

Rupert started off as a nerdy lad expecting to be an electronics engineer, but having tried it for a while discovered that journalism was more fun. He ended up on PC Magazine in the early '90s, before that evolved into ZDNet UK - and Rupert evolved with them into an online journalist.

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