Intel Corporation has signed a definitive agreement to acquire security giant McAfee for approximately $7.68 billion. If completed, McAfee would become a wholly owned subsidiary of Intel and will report to Intel's Software and Services Group. For Intel, bringing McAfee into the fold continues with the company's plans around software, explained RenÃ© James, Intel senior vice president and general manager of the Software and Services group, in a prepared statement released August 19, 2010.
"This acquisition is consistent with our software and services strategy to deliver an outstanding computing experience in fast-growing business areas, especially around the move to wireless mobility," James said. "McAfee is the next step in this strategy, and 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."
Intel CEO Paul Otellini says the growth of Internet-connected devices has moved more and more elements of people's lives online. Looking ahead, security will be a key factor of what people demand from all their computing experiences, he added.
For more on the deal, read the full eWeek article Intel to Buy McAfee Security Business for $7.68B.