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Intel Buys McAfee for $7,680,000,000

By - Source: Tom's Hardware US | B 9 comments

So here's one we didn't see coming: Intel has just announced the acquisition of McAfee for more than $7.6 billion.

Intel this morning released a statement announcing its acquisition of software security company McAfee at a cost of $48 per share, or $7.68 billion. McAfee, which last year brought in more than $2 billion in revenue, has more than 6,000 employees and will operate as a wholly-owned subsidiary, reporting into Intel’s Software and Services Group. Intel CEO Paul Otellini said in a statement that the company now ranks security among its top three priorities, along with connectivity and energy-efficient performace.

"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. "

Renée James, Intel senior vice president and general manager of Software and Services, said the acquisition will lead to breakthroughs in the security market.

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

"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."

"McAfee is the next step in this strategy, and the right security partner for us," she added. "Our current work together has impressive prospects, and we look forward to introducing a product from our strategic partnership next year," he added.

Both boards of directors approved the acquisition, which will be complete once it is approved by McAfee shareholders, and the various different regulatory bodies that have to give these kinds of deals the once over.

Check out the full press release here.

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  • 2 Hide
    mojito_619 , 20 August 2010 01:55
    But...but...McAfee sucks!
  • 1 Hide
    indran1412 , 20 August 2010 02:18
    Intel Antivirus 2011 or Intel Internet Security 2011 anyone?
  • 0 Hide
    Silmarunya , 20 August 2010 02:26
    indran1412Intel Antivirus 2011 or Intel Internet Security 2011 anyone?

    If it's based on McAfee, security might be an overstatement. Besides, Intel itself is mainly looking for hardware based security, I think they'll leave McAfee to making antivirus software, possibly under their own name.
  • Display all 9 comments.
  • 0 Hide
    tuc0 , 20 August 2010 04:09
    McAfee was the worst anti virus and firewall i have ever had, the company isnt worth 1p.
  • 0 Hide
    LePhuronn , 20 August 2010 05:20
    McAfee used to be good way back when - maybe Intel will build a new one from the ground up and get it right again?
  • 0 Hide
    SevenVirtues , 20 August 2010 07:34
    This is why:
  • 0 Hide
    mrmad , 20 August 2010 09:57
    If HW based solutions perform as well as McAfee SW then it is doomed
  • 2 Hide
    rebus_forever , 20 August 2010 19:53
    all hail the coming of the one company, one business to rule them all, microtel? intelsoft?
  • 2 Hide
    ben BOys , 22 August 2010 00:54
    this is like how that company bought bebo. Mcfee sucks and soon people will relise it sucks and will turn to Microsoft Security essentials or Avast