Intel has completed its US$7.7bn acquisition of data security firm McAfee. It is understood McAfee will continue developing and selling security products under its own brand.
Intel and McAfee said they plan to bring the first fruits of the acquisition to market later this year, with the intent of tackling security and the pervasive nature of computing threats in an entirely new way.
Intel announced in August it was buying McAfee for US$7.7bn – US$48 a share – making it the largest acquisition in Intel’s history.
Intel to reveal a new approach to security
Intel and McAfee said they believe today’s approach to security does not adequately address the billions of new internet-ready devices, including PCs, mobile and wireless devices, TVs, cars, medical devices 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.
The two companies will work to help people more securely take full advantage of the potential of computing and connectivity.
As a wholly-owned subsidiary of Intel, McAfee reports into Intel’s Software and Services Group. The group is managed by Renée James, Intel senior vice-president, and general manager. McAfee’s president, Dave DeWalt, will report to James.
“In the past, energy-efficient performance and internet connectivity have defined computing requirements,” said James.
“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,” James said.