McAfee to Be Acquired by Intel
After the news that HP will acquire Fortify Software, security software vendor known for making security analysis and assurance tools for application developers, we find out that another large non-security company acquires a security software developer. The non-security company I am talking about is Intel; and the security software developer is McAfee, company that specializes in providing security software solutions for home and business users.
Intel and McAfee announced that they entered a definitive agreement and that as part of that agreement Intel will acquire McAfee. Here are the acquisition details the two companies disclosed:
- Intel will purchase all of McAfee’s common stock. Intel will pay $48 per share in cash, which amounts to about $7.68 billion in total.
- After the acquisition goes through, McAfee will operate as a wholly-owned subsidiary and will report to Intel’s Software and Services Group.
- The acquisition first has to go through McAfee shareholder approval, regulatory clearances and other customary conditions. Intel’s and McAfee’s board of directors have unanimously approved the deal.
“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 Intel President and CEO, Paul Otellini. “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.”
“The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month,” said President and CEO of McAfee, Dave DeWalt. “We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”
Intel and McAfee announced that they entered a definitive agreement and that as part of that agreement Intel will acquire McAfee. Here are the acquisition details the two companies disclosed:
- Intel will purchase all of McAfee’s common stock. Intel will pay $48 per share in cash, which amounts to about $7.68 billion in total.
- After the acquisition goes through, McAfee will operate as a wholly-owned subsidiary and will report to Intel’s Software and Services Group.
- The acquisition first has to go through McAfee shareholder approval, regulatory clearances and other customary conditions. Intel’s and McAfee’s board of directors have unanimously approved the deal.
“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 Intel President and CEO, Paul Otellini. “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.”
“The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month,” said President and CEO of McAfee, Dave DeWalt. “We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”
