Intel to buy McAfee for $7.68 bn
Chip maker Intel Corp said Thursday it agreed to buy security technology firm McAfee Inc for about USD 7.68 billion in cash in an effort to boost its security offerings.
Under the terms of the deal, Intel said it would pay USD 48 per share in cash for McAfee, which would become a wholly owned subsidiary of Intel’s software and services group. The price is a 60% premium to McAfee’s Wednesday closing price.
Intel said it expects the deal would slightly reduce net earnings in the first year, although on a non-GAAP basis it is expected to help profit slightly. McAfee was founded in 1987 and had about USD 2 billion in revenue in 2009.
Source:- Moneycontrol
