Intel announces plans to acquire McAfee, Inc. for approximately £5 billion

Rosie Khdir looks into the latest acquisition in the technology sector, as Intel announces its plans to buy security software manufacturer McAfee for around £5 million.

On the 16^th August Intel, the world’s largest semiconductor chip maker, shocked the technology industry in its bid to acquire McAfee for $7.68 billion ($4.9bn).

This would mean a purchase of all of McAfee’s common stock for £48 per share in cash and McAfee will operate as a wholly-owned subsidiary, reporting into Intel’s Software and Services Group.

Paul Otellini, Intel president and CEO said:

“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.”

This merger will ultimately better protect consumers, corporations and governments with security software and hardware from one company as billions of devices – and the server and cloud networks that manage them – go online.

Intel and McAfee will jointly explore future product concepts to help strengthen security in the cloud network and countless computers and devices people use day-to-day.

Renée James, Intel senior vice president, and general manager of the group, said:

“McAfee is the right security partner for us. Our current work together has impressive prospects, and we look forward to introducing a product from our strategic partnership next year.”

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