Thursday, August 19, 2010

Intel Buys McAfee

Santa Clara-based chip giant Intel is buying computer security giant McAfee, in a deal worth approximately $7.68 billion, the firms said this morning. According to the firms, McAfee will become a wholly-owned subsidiary reporting into Intel's Software and SErvices Group. According to the companies, Intel is paying $48 per share in cash for McAfee, in a deal which was unanimously approved by the boards of directors of both companies. Intel said that the acquisition reflects that "security is now a fundamental component of online computing." McAfee had approximately $2.0 billion in revenues in 2009, and has approximately 6,100 employees.