Intel acquires McAfee for $7.68 billion

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Intel seemed to be in some sort of addiction for acquisition as of late. The company has just acquired Texas Instrument’s cable modem unit, and now it has picked up the Santa Clara-based security/antivirus company for a sweet $7.68 billion, which is about $48 per share in cash. McAfee will be functioning as a wholly owned subsidiary under the control of its Software and Services group. Possibly Intel would focus on security for connected devices.

“The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month,” said McAfee CEO Dave DeWalt.”We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”

“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.

“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.

Press Release via Intel