Some signaled the death knell of security firms like Symantec and McAfee after Microsoft released its free Microsoft Security Essentials product. That hasn't been the case, however, and Intel sure doesn't feel that way, or it wouldn't have bought security giant McAfee for $7.68 billion, as it did on Thursday.
The deal is all-cash, and amounts to $48 per share. While Intel is definitely a hardware company, it has been building more security into its products with, for example, its vPro series for business.
With the addition of McAfee, it would seem that Intel wants to build more security directly into its hardware releases, in the firmware or BIOS. That was made clear in a follow-up conference call on Thursday morning, when Intel CEO Paul Otellini said, "We believe security will be most effective when enabled in hardware."
McAfee will operate as a wholly-owned subsidiary of Intel. It will report to Intel’s Software and Services Group. In addition to a press release, Intel posted a YouTube video on the acquisition. Watch it below: