SANTA CLARA, Calif., Aug. 19, 2010 – Intel Corporation has entered into a definitive agreement to acquire McAfee, Inc., through the purchase of all of the company’s common stock at $48 per share in cash, for approximately $7.68 billion. Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement.
The acquisition reflects that security is now a fundamental component of online computing. Today’s security approach does not fully address the billions of new Internet-ready devices connecting, including mobile and wireless devices, TVs, cars, medical devices and ATM machines as well as the accompanying surge in cyber threats. Providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services.
Today McAfee agreed to be acquired by Intel Corporation. Obviously this is big news for McAfee, big news for Intel Corporation, big news for our combined customers, and big news for both the security industry and the future of the Internet. It’s the company’s common belief that security is a fundamental component of modern computing, and the acquisition reflects its increasing relevance in a completely connected world. The number of connected devices is expected to grow from 1 billion to 50 billion by 2020. This explosive growth of Internet and IP-enabled devices (e.g. Internet enabled TV, IP addressable cars, ATM machines, medical devices) is fundamentally reshaping communication, collaboration and commerce opportunities for individuals, businesses and governments around the world.
Unfortunately, cyber-criminals and cyber-terrorists are misusing the Internet’s open and any-to-any communication architecture for malicious purposes, leaving many users at risk and the future of the Internet as we know it in question. Cybercrime costs over 1 trillion dollars to society, the identity of 100s’ of millions of individuals have already been compromised and dozens of governments around the globe have already been targets of cyberwarfare.