Comments
The world’s largest chip-maker, Intel Corp, has announced the completion of its $7.68-billion acquisition of security software company McAfee.
“... The acquisition of McAfee Inc is complete,” the company said in a statement.
Under the terms of the agreement, McAfee would become a wholly-owned subsidiary of Intel and would continue to develop and sell security products and services under its own brand.
Both the companies have a good presence in India. In August last year, Intel said it will acquire McAfee in an all-cash deal worth $7.68 billion that will bolster the chip-maker’s computing portfolio, especially in terms of wireless mobility offerings.
As a wholly-owned subsidiary of Intel, McAfee will be under Intel’s Software and Services Group. The group is managed by Intel Senior Vice-President and General Manager Mr Renee James.
“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 said.
McAfee, which employs about 6,100 employees, offers a suite of software-related security solutions, including McAfee Antivirus and McAfee Firewall, with many products targeted at mobile devices such as smart phones.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.