Intel To Get Hold Of Internet Security Firm For $7.7 Bln
Submitted by Niyant Shah & Dhaval Vora
Intel Corporation, the world's biggest computer chip manufacturer, is all set to get hold of internet security firm McAfee for around $7.68 billion.
Quoting a value of $48 a share, the world's biggest computer chip manufacturer is paying up a premium of 60% over the value at which the security-maker's stock marked its closure on August 19.
In a major declaration, Intel stated that it will make Santa Clara, California-based computer-security software company its wholly-owned arm.
Intel also said that the contract will result in securer computing for users via safety measures, which amalgamate with hardware, rather than a strictly-software approach.
The company added that existing safety approaches did not consider the profusion of Internet-ready devices such as cellular phones, televisions, medical equipments and cash machines.
Intel plans to add up a 'third benchmark', that of safety, to the subsisting ones of energy competence as well as speed, which outlined microprocessors.
The agreement, which is likely to make a dent in the Intel's revenue during the initial year, has been sanctioned by both the directors, but awaits authorization from stockholders of McAfee as well as regulatory authorities.
Intel Corporation, the world's biggest computer chip manufacturer, is all set to get hold of internet security firm McAfee for around $7.68 billion.Quoting a value of $48 a share, the world's biggest computer chip manufacturer is paying up a premium of 60% over the value at which the security-maker's stock marked its closure on August 19.
In a major declaration, Intel stated that it will make Santa Clara, California-based computer-security software company its wholly-owned arm.
Intel also said that the contract will result in securer computing for users via safety measures, which amalgamate with hardware, rather than a strictly-software approach.
The company added that existing safety approaches did not consider the profusion of Internet-ready devices such as cellular phones, televisions, medical equipments and cash machines.
Intel plans to add up a 'third benchmark', that of safety, to the subsisting ones of energy competence as well as speed, which outlined microprocessors.
The agreement, which is likely to make a dent in the Intel's revenue during the initial year, has been sanctioned by both the directors, but awaits authorization from stockholders of McAfee as well as regulatory authorities.
