On Thursday, Intel said it plans to acquire security vendor McAfee in a cash deal valued
at about 7.7 billion US dollars.
Both boards of directors have approved the deal, and McAfee is expected to become a subsidiary
within Intel's Software and Services Group. Intel said that the current approach to security
does not address the full range of Internet-connected devices, including TVs, cars, medical devices
and ATM machines.
Renee James Senior VP, Intel
"Security is really important across our existing businesses, both in the data center and the
connection through the network from the data center cloud, as well as obviously in your
PC. And as the PC market continues to expand, continues to be a great business, security
is increasingly a consideration for all users."
Intel's move will help to bridge the gap across a wide range of mobile devices, an industry
continuing to expand with the popularity of tablets and smartphones.
Dave DeWalt CEO, McAfee
"Connected devices are exploding as the movement of the new internet from IPv4 to IPv6 changes,
we're going to trillions of devices over time and security is really important as a part
of that."
The deal is expected to close after McAfee shareholder approval and regulatory clearances.
McAfee generated approximately $2 billion in revenue in 2009, and has about 6,100 employees.
With reporting by Jeremy Kirk, I'm Justin Meisinger, IDG News Service.