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Intel to buy McAfee

ICT Desk |
Update: 2010-08-19 21:43:53
Intel to buy McAfee

The world`s biggest chip maker, Intel, has agreed to buy the security technology firm, McAfee. Through buying McAfee, a leading security technology firm, Intel intends to build security features into its microprocessors which go into products such as laptops and phones.

Intel will pay $7.68bn (£5bn) in cash. Under the terms of the deal, Intel said it would pay $48 per share in cash for McAfee, almost 60% higher than its closing price on last trading day.

The two companies said they had been working together for 18 months and that, should the takeover pass regulatory and shareholder approval, the first new products would be revealed early next year.

BDST: 1515 HRS, 20 August 2010

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