Intel set to complete sales negotiations with McAfee
Intel to buy McAfee in £5bn deal
20 August 2010
Microchip maker Intel is set to complete sales negotiations with
McAfee after the firm agreed to buy the online security giant in a
$7.68 billion (£5 billion) deal.
Intel will pay $48 (£30) a share for McAfee, representing a 60
per cent premium on the value of the stock on Wednesday's
close.
Dave DeWalt, chief executive of McAfee, claimed the partnership
will significantly improve online security.
He said: "The cyber threat landscape has changed dramatically
over the past few years, with millions of new threats appearing
every month.
"We are joining forces to tackle this next-generation
cybersecurity issue, which impacts everyone and anything connecting
to the internet."
Intel plans to build microprocessors with in-built security
features for a range of products including laptops and phones.
The two firms have been working together for the past 18 months
and expect the deal to be formally completed next year.