Intel plans to purchase the security technology company McAfee for approximately $7.68 billion, acquiring all of the company’s common stock for $48 a share.
The acquisition would result in a single vendor offering a combination of security software and hardware products designed to protect customers as billions of devices, and the server and cloud networks designed to protect them, continue to go online, Intel says.
McAfee, which has registered double-digit, year-over- year growth and nearly 80 percent gross margins last year, would become a wholly-owned Intel subsidiary, reporting into Intel’s Software and Services Group.
“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.”
McAfee generated approximately $2 billion in 2009 and currently has 6,100 employees. “The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month,” said Dave DeWalt, president and CEO of McAfee. “We believe the acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”
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