Intel completes $7.68 bn acquisition of McAfee

BANGALORE, INDIA: Intel Corporation announced on Tuesday that it has completed the acquisition of McAfee Inc.

The acquisition is worth $7.68 billion. Through the acquisition, McAfee security features will be integrated directly into Intel processors, said a press release.

McAfee will continue developing and selling security products and services under its own brand.

Intel and McAfee plans to bring the first fruits of their strategic partnership to market later this year, with the intent of tackling security and the pervasive nature of computing threats in an entirely new way.

Intel and McAfee 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, the release added.

As a wholly-owned subsidiary of Intel, McAfee reports into Intel's Software and Services Group. The group is managed by Renée James, Intel's senior vice president, and general manager. McAfee's president, Dave DeWalt, will report to 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," said James.

He added that 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.