McAfee acquisition adds to Intel software expansion
Security firm McAfee is being bought by Intel for a stock-purchase worth $7.68bn.
The acquisition reflects that security is now a fundamental component of online computing, Intel said in a statement, adding that current security provision ‘does not fully address the billions of new Internet-ready devices… Providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services’.
McAfee, which experienced widely-reported embarrassment last April when a customer software update contained an erroneous false positive alert, will become a wholly-owned subsidiary reporting into Intel’s Software and Services Group.
“The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month,” commented McAfee president and CEO Dave DeWalt. “This acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”
Both boards of directors have approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement.
Intel and McAfee will also ‘explore future product concepts to further strengthen security in the Cloud Computing’, the statement added. The processor giant has made a series of software acquisitions in the gaming, visual computing, embedded device, and machine software sectors.