Intel (INTC) announced this morning that it was purchasing all the outstanding shares of McAfee (MFE) for a total of $7.68 billion in a move to further integrate software and hardware security.
The purchase has been approved by both boards and is expected to be completed after shareholder approval and regulatory clearances.
For consumers this may signal a tighter integration of security integration in notebooks, netbooks and soon mobile phones that will be running Intel processors. In the commercial sector the acquisition will enable Intel to provide enhanced security solutions in embedded devices like TVs, Cars, medical devices and ATMs.
Speaking on the acquisition Paul Otellini, Intel President and CEO said,
With the rapid expansion of growth across a vast array of Internet-connected devices, more and more of the elements of our lives have moved online. In the past, energy-efficient performance and connectivity have defined computing requirements. Looking forward, security will join those as a third pillar of what people demand from all computing experiences.
The addition of McAfee products and technologies into the Intel computing portfolio brings us incredibly talented people with a track record of delivering security innovations, products and services that the industry and consumers trust to make connecting to the Internet safer and more secure,â€
Dave DeWalt, President and CEO of McAfee provided a comment in the announcement speaking on the current security environment,
The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month. We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience.â€
Intel Senior VP Renee James and McAfee President and CEO Dave DeWalt speak about the deal in the video below.