The semiconductor company, Intel Corporation, has entered into a definitive agreement to acquire all the common stock of McAfee, Inc at a price of $48 per share in cash. That tallies up to $7.68 billion. McAfee is a developer and distributor of computer and network security solutions.
The offer price represents a premium of 60% to McAfee’s closing share price on August 18, 2010. Both Boards of Directors have unanimously approved the transaction, which is expected to close after McAfee shareholders approve. Regulatory clearances and other customary conditions specified in the agreement will also have to muster up.
Upon completion, McAfee will operate as a wholly-owned subsidiary, reporting into Intel’s Software and Services Group.
Intel says that the reason for purchasing the company was to, “enable a combination of security software and hardware from one company to ultimately better protect consumers, corporations and governments as billions of devices – and the server and cloud networks that manage them – go online.”
McAfee are one of the most well known software security suites. It focuses mainly on cyber security and helps in the fight against viruses, malware, spyware and other computer related issues.
