Intel Buys McAfee For $7.6 Billion

August 20, 2010

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Intel Buys McAfee For $7.6 Billion

Intel has entered into an agreement to acquire security firm McAfee, through the purchase of all of the companys stock at $48 per share in cash, for $7.68 billion.

Both boards of directors have approved the deal, which is set to close after McAfee shareholder approval, regulatory clearances and other conditions specified in the agreement.

With the rapid expansion of growth across a vast array of Internet-connected devices, more and more of the elements of our lives have moved online, said Paul Otellini, Intel president and CEO. In the past, energy-efficient performance and connectivity have defined computing requirements. 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, Otellini added.

McAfee, which had double-digit, year-over-year growth and nearly 80 percent gross margins last year, will become...

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