Anti-virus makers to add “third pillar’ of security to the firm.
Intel said on Thursday that it was to buy security solution makers McAfee in a staggering $7.6 billion deal. With the acquisition, Intel hopes to redefine computing requirements which have largely been about energy-efficient performance and connectivity.
According to a Reuters report, under the terms of the deal, Intel will pay $48 per share in cash for McAfee, which would operate as a wholly owned subsidiary of Intel’s Software and Services group. The buy price is a 60% premium to McAfee’s closing price on Wednesday.
“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,” Intel CEO Paul Otellini said in a statement.
“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,” he added.