Intel has announced that it is to buy McAfee, the security software company, in a deal worth approximately $7.68 billion (£4.9 billion). The world’s biggest chip company will purchase all of McAfee’s common stock for $48 a share, in cash. McAfee will become a wholly owned subsidiary of Intel, reporting into Intel’s Software and Services Group.
Intel explained the move in a statement, saying that it would enable Intel to become a one-stop-shop for security hardware and software, making it better able to protect businesses and consumers. The company said that security was now as important internally to it as energy efficiency and connectivity, a move influenced by the reality of billions of devices connecting online.
"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 chief executive in a statement. "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.
"The addition of McAfee products and technologies into the Intel computing portfolio brings us incredibly talented people with a track record of delivering security innovations, products and services that the industry and consumers trust to make connecting to the Internet safer and more secure," Otellini added.
"The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month," added Dave DeWalt, president and chief executive of McAfee. "We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience."
The coming together is pretty much a done deal, save for McAfee shareholder approval and unspecified regulatory clearances, though we imagine these are formalities.