McAfee has agreed to sell up to chip giant Intel in a move that may come as little surprise to some channel players.
Intel’s $48-a -share offer, which has been approved by both boards of directors, values McAfee at $7.68bn and represents a 60 per cent premium on the security vendor’s closing share price yesterday.
McAfee will operate as a wholly owned subsidiary reporting into Intel’s Software and Services group.
Intel said a move of this type would help head off cyber threats stemming from new internet-ready devices such as wireless devices, TVs, cars, medical devices and ATM machines.
Intel chief executive Paul Otellini, 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.”
Dave DeWalt, chief executive of McAfee, added. "We believe this acquisition will result in our ability to deliver a safer, more secure and trusted Internet-enabled device experience."
Speculation that McAfee could sell up to one of the industry’s giants has been circulating for some time. Such talk only intensified after McAfee began to streamline its distribution channel late last year after bringing in new channel management. It was won by US giants Ingram Micro, Tech Data and Arrow ECS in the UK.
However, the rumour mill had perennially identified HP as a likely acquirer.
Intel said the deal is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement.
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