Intel completes McAfee buy

Intel completes McAfee buy

2/28/2011 4:59 PM EST

Intel said it completed the previously announced acquisition of McAfee after receiving regulatory approval. SAN FRANCISCO—Intel Corp. said Monday (Feb. 28) it completed the previously announced acquisition of McAfee Inc. after receiving regulatory approval.
Intel announced last August it would buy security software maker McAfee in a deal worth $7.68 billion. It took Intel several months to win regulatory approval for the deal, particularly in Europe, where anti-trust regulators reportedly raised concerns about the deal.
Intel (Santa Clara, Calif.) said Monday that, following the closing of the acquisition, McAfee would continue developing and selling security products and services under its own brand. The company said Intel and its wholly owned subsidiary would also market later this year the “first fruits of their strategic partnership” intended to tackle “security and the pervasive nature of computing threats in an entirely new way.”
McAfee ow reports into Intel’s Software and Services Group, managed by Renée James, Intel senior vice president, and general manager, Intel said. McAfee’s president, Dave DeWalt, will report to James, Intel said.