Asia Bizz: Intel Plans To Buy McAffe At A Price Of $7.68 Billion
American chip making giant, Intel has decided to purchase McAfee, a security technology company for a price of $7.68 billion. The purchase of the company will be done in cash, because Microsoft wants to take a strong step in software and OS security.
Reports say that the payment for the purchase will be done by Microsoft, since they will be buying 48% shares in cash and after which Intel will be whole and sole subsidiary of the security company. The price will be 60% premium on McAfee’s closing price on Wednesday.
As per Microsoft officials, they say that for the first financial year after the purchase, they will be expecting a bit of a less earning . Microsoft is now an OS giant and more than 70% of the world computers are working on the Microsoft OS. The company was founded in the year 1987, and had a $2 billion revenue for the year 2009.