Intel's acquisition of McAfee now complete

Intel, the world's largest chip maker, has announced that its acquisition of security specialist McAfee is now complete. Under the terms of the deal, first announced in August 2010, Intel agreed to purchase all of McAfee's common stock for $48 per share, valuing the cash deal at a total of approximately $7.68 billion (£4.71 billion).

In the company's official press release, Intel says that "McAfee will continue developing and selling security products and services under its own brand," noting that, "Intel and McAfee plan 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". McAfee, now a wholly-owned subsidiary of Intel, will report to intel's Software and Services Group, which is managed by Intel Senior VP and General Manager Renée James.

Discussing the completion of the acquisition, James said 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".

Originally founded in 1987, McAfee is based in Santa Clara and currently employs approximately 6,100 people. It's best known for its various anti-virus and internet security software products and turned over $2 billion in revenue in 2009.

See also:

• Intel Completes Acquisition of McAfee, press release from Intel.
• European Commission imposes conditions on Intel's take-over of McAfee, a report from The H.
• FTC gives its blessing to Intel's acquisition of McAfee, a report from The H.

(crve)