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Intel Closes Deal with McAfee Buy

March 1, 2011 by Rosa Comments Off on Intel Closes Deal with McAfee Buy divider image

The largest chip maker in the world, Intel, finished the acquisition of antivirus software giant, McAfee on Monday, paying a reported $7.68 billion in cash.

The buy was announced last August, but it took some time for the U.S Trade Federal Commission and the European Union to approve it. Intel intends to use McAfee to secure mobile devices and PCs at the hardware level instead of just relying on software, reports The San Francisco Chronicle. This acquisition is the largest Intel has ever made in its 42 year history, says Businessweek.

McAfee, which is one of the largest security companies in the world and had revenue of $2 billion in 2009, will continue to sell and develop security software and products under its own name, and will reveal the new “fruits of their strategic partnership” later in the year, reports Techcrunch.

According to a joint press release, Intel and McAfee don’t think that the way security threats are being addressed today is sufficient to combat the new slew of cyber threats, and to protect the billions of new products that use the internet such as PCs, TVs, medical devices, mobile and wireless devices, cars, and ATM machines.

“With the surge in cyber threats, providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services. Together the two companies will work to help people more securely take full advantage of the potential of computing and connectivity.”

According to The San Francisco Chronicle, Intel reportedly made security one of its top priorities after the Operations Aurora, thought to have originated from China, attacked Google and some other big companies.

“Intel has added security as a third pillar of what people demand from their experiences with personal computers and other connected devices. Security challenges put the future potential of computing at risk. 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,” said Intel’s Renee James in the press release.

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