Intel completes $7.68 Billion buyout of McAfee
Wednesday, 02 March 2011, 06:43 IST   |    21 Comments
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New York: The world's largest chip-maker, Intel, announced the completion of its $7.68 billion acquisition of security software company McAfee. "... The acquisition of McAfee Inc is complete," the company said in a statement. Under the terms of the agreement, McAfee would become a wholly-owned subsidiary of Intel and would continue to develop and sell security products and services under its own brand. Both the companies have a good presence in India. In August last year, Intel said it will acquire McAfee in an all-cash deal worth $7.68 billion that will bolster the chip-maker's computing portfolio, especially in terms of wireless mobility offerings. As a wholly-owned subsidiary of Intel, McAfee will be under Intel's Software and Services Group. The group is managed by Intel Senior Vice-President and General Manager Renee James.
Source: PTI
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