Intel to Acquire McAfee for $7.7 Billion

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Intel Corporation has entered into a definitive agreement to acquire McAfee, Inc., for approximately $7.68 billion.

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.

With the fast expansion of growth across various Internet-connected devices, more and more of the elements of people’s lives have moved online, said Paul Otellini, Intel president and CEO.

“In the past, energy-efficient performance and connectivity have defined computing requirements,” he said. ” Looking forward, security will join those as a third pillar of what people demand from all computing experiences. 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.”

Dave DeWalt, president and CEO of McAfee, offered his comments on the deal:

“The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month. We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.”

Intel recently made several software acquisitions to pursue a deliberate strategy focused on leading companies in their industry delivering software that takes advantage of silicon. These include gaming, visual computing, embedded device and machine software and now security.