Intel paid $48-per-share price which represents a 60% premium over McAfee’s Wednesday closing price of $29.93.
Intel believes security is now a fundamental component of online computing, but today’s approach to security is not that adequate for the growing availability of internet connections on cell phones, ATMs, cars etc. And they are willing to present a new approach that combines software, hardware and services to update the system and to meet tomorrow’s needs.
Paul Otellini, the CEO of Intel mentioned that energy-efficient performance and connectivity were key computing requirements. But now security will join those as “third pillar” of what people demand from all computing experiences.
The deal was approved by both sides, but still requires McAfee shareholder approval and regulatory clearances.