Mergers and Acquistions News
Categories: Software
August 20th 2010, 14:41PM
Leading technology giant Intel Corporation has announced that it will acquire McAfee, Inc through a purchase of common stock.
The company is offering $48 (£30.86) per share and is expected to spend $7.68 billion on acquiring the security firm.
While shareholder approval, regulatory clearance and customary conditions must still be met, the deal has been unanimously approved by both boards of directors.
Paul Otellini, president and chief executive of the organisation, claimed that the growth in the number of devices that can access in the internet is driving the expansion of people's lives onto the internet.
He said: "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."
Earlier this week, Intel Corporation announced that it would be acquiring Texas Instruments' cable modem product line, which it hopes to combine with its Data Over Cable Service Interface Specification standard technology.
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