Intel completes McAfee acquisition
The chipmaker finalizes its $7.68 billion purchase of McAfee, which will continue to offer products under its own brand in a combined effort to expand security across a wide range of devices.
Intel has completed its $7.68 billion acquisition of McAfee.
The completion of the deal, announced yesterday, follows approvals by the various boards of directors and stockholders, as well as reviews by the Federal Trade Commission, the European Commission, and other regulatory groups.
As a wholly owned subsidiary of Intel, McAfee will become part of the company's Software and Services Group, run by senior vice president Renee James. McAfee president Dave DeWalt will report directly to James.
McAfee will continue to offer its own branded line of security products and maintain its own customers. The two companies said they're prepping the "first fruits" of their partnership to hit the market later this year.
The need for greater security across a greater array of devices was the driving force behind Intel's bid to pick up McAfee.
Pointing to the growing number of connected devices, from PCs to mobile phones to TVs to medical devices, the two companies have said that today's approach to security isn't enough. And with the mounting threat of cyberattacks, a new security framework that combines hardware, software, and services is needed.
Security itself has become a "third pillar of computing," according to the companies, on par with energy-efficient performance and connectivity as essential elements. Among other avenues, Intel is looking to bring security to silicon by integrating it at the hardware level before the operating system even comes into play. This core approach to security applies to both embedded products and mobile devices, the companies said.
"Security challenges put the future potential of computing at risk," James said in a statement. "The acquisition of McAfee adds not only world-leading security products and technologies to Intel's computing portfolio, but also brings incredibly talented people focused on delivering products and services that help make connecting to the mobile Internet safer and more secure."
Blogging about the completed acquisition yesterday, DeWalt said that Intel and McAfee will present a webinar in May to discuss how the two will partner to concentrate on security. McAfee will also have more to say at its Focus 2011 security conference in October.