Intel buys McAfee for $8.5 billion

Powered by SC Magazine
 

Future based on "hardware-enhanced security".

Intel has agreed to buy security software maker McAfee for about $US7.68 billion ($8.54 billion) as it placed security "on par" with energy efficiency and connectivity in its future development strategy.

The chipmaking giant said the deal, if approved, would see McAfee become a wholly-owned subsidiary of Intel, reporting into its software and services group run by Renee James.

"Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement," Intel said in a statement.

Intel was already "offering hardware encryption embedded in its Westmere chips" that McAfee was taking advantage of in its security software.

"We are working together to bring superior solutions to our customers," McAfee said on its website.

More fruits from that partnership were to be introduced to market next year, Intel said.

They included joint exploration of "future product concepts to strengthen security in the cloud", the companies said.

“In the past, energy-efficient performance and connectivity have defined computing requirements," Intel chief executive officer Paul Otellini said.

"Looking forward, security will join those as a third pillar of what people demand from all computing experiences."

McAfee had about 6100 employees.

Copyright © iTnews.com.au . All rights reserved.


Intel buys McAfee for $8.5 billion
 
 
 
Top Stories
Beyond ACORN: Cracking the infosec skills nut
[Blog post] Could the Government's cybercrime focus be a catalyst for change?
 
The iTnews Benchmark Awards
Meet the best of the best.
 
Telstra hands over copper, HFC in new $11bn NBN deal
Value of 2011 deal remains intact.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  39%
 
Your insurance company
  3%
 
A technology company (Google, Facebook et al)
  8%
 
Your telco, ISP or utility
  7%
 
A retailer (Coles, Woolworths et al)
  2%
 
A Federal Government agency (ATO, Centrelink etc)
  20%
 
An Australian law enforcement agency (AFP, ASIO et al)
  14%
 
A State Government agency (Health dept, etc)
  6%
TOTAL VOTES: 1799

Vote
Do you support the abolition of the Office of the Information Commissioner?