UPDATED 07:07 EDT / AUGUST 19 2010

Intel Acquires McAfee for $7.7 Billion, Will Expand Mobile Security

image More security acquisitions today, with Intel announcing its plans to buy McAfee for about $7.7 billion in cash. The chip maker is looking to expand its own security service offerings, and this acquisition marks its biggest move towards that goal.

Intel will pay $48 a share for McAfee, a 60 percent premium for the antivirus software maker. McAfee may have earned it–the company reported $2 billion in revenue last year

The acquisition also notes the rising demands around security, for hardware and software. It’s particularly important for businesses and consumers, as interest and needs grow around cloud-storage, remote access, consumer-driven media sharing through open networks. From Intel’s released statement,

“In the past, energy-efficient performance and connectivity have defined computing requirements,” Paul Otellini, Intel’s chief executive, said in a statement. “Looking forward, security will join those as a third pillar of what people demand from all computing experiences.”

Moving forward, a primary area for Intel to focus its broader security efforts on is the mobile industry. McAfee is one of the many large players in the securities arena that has launched mobile security efforts, which have risen in demand along with other cloud-storage and access trends. It’s a direction the company noted after its noted settlement with the FTC, particularly as Intel looks to stay ahead of the curve and into a more cross-device, needs-based environment.


Since you’re here …

Show your support for our mission with our one-click subscription to our YouTube channel (below). The more subscribers we have, the more YouTube will suggest relevant enterprise and emerging technology content to you. Thanks!

Support our mission:    >>>>>>  SUBSCRIBE NOW >>>>>>  to our YouTube channel.

… We’d also like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.

If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE.