Thursday, August 19, 2010

Intel to buy over McAfee for $7.68 billion

McAfee, Inc. (NYSE: MFE), headquartered in Santa Clara, California, being famous for its antivirus and security solutions, will be bought over by Intel (NASDAQ: INTC) for $48 per share in cash, which is about 60% more than its listing price before announcement. The deal totalling to $7.68 billion, making it the largest acquisition attempt of Intel.

After the acquisition, McAfee will operate as a wholly-owned subsidiary, reporting into Intel’s Software and Services Group and managed by Renee James, their senior vice president and general manager of the group.

Intel’s president and CEO Paul Otellin called security as the “3rd pillar of what people demand from all computing experiences,” behind energy-efficient performance and connectivity.

This is another acquisition exercise of Intel right after the recently announced buying over of Texas Instruments' cable modem product unit.


Post a Comment

Hint: Click on the "Older Posts" link to continue reading, or click here for a listing of all my past 3 months articles.