Intel has agreed to buy McAfee, the computer antivirus software maker, for $7.7 billion in cash in an effort to expand beyond its core chip-making business.
Intel will pay a whopping $48 a share for McAfee, a 60% premium for the antivirus software maker.
The acquisition also aims to improve security for the billions of businesses and consumers that have “intel inside”, particularly as servers and cloud networks play a more dominant role.The acquisition should help to better assure customer and consumer security concerns as these billions of devices connect. Worth the 60% premium? We’re not so sure but McAfee may have earned it, the company reported $2 billion in revenue last year.
While this may appear surprising, it’s important to remember McAfee are far more than a desktop computer virus company. The security giant provides mobile, virtualisation and network security products, an area Intel are clearly interested in dominating. That said, with other security companies like Symantec and notably Fortinet, shareholders will question the purchase.
Sure must be nice to have truck loads of cash just laying around.
Lou
http://www.total-privacy.cz.tc
David Freer (VP, Symantec Consumer Business Units – Norton, APJ) is a BIG LIAR! He lied to me for more than two and half years for my true feelings, time, and money. Also kept saying I am the only one in his life. Even this year on Feb. 2, he used company line to lead me to have phone sex with him. Until I found out there’s some other woman, he made up another lie and finally admitted he’s been living with her for a year. Later, I realized they were all lies. He actually has married March 2009. And now he just totally disappeared and not answering any phone calls, acting like “hit & run” irresponsible baby. Can you trust someone like this, with no ethics and integrity? The more unbelievable things are David Freer newly-wed wife – SUZY WALSHAM, she shamefully admitted she was the third person who broke up David Freer & his ex 12 years relationships, and mocking at me as the 3rd “unsuspected” person, as she agreed with his husband’s behaviors!!!!!! SHAME ON both of you, DAVID FREER & SUZY WALSHAM!!!!!!! (THEY BOTH WORK FOR SYMANTEC). I worked for Symantec too. Yes, Symantec is a bizarre company.
What a wonderful news! We don’t have to put up with Symantec any more!
As I have reported to Symantec Ethics about David Freer’s (VP, Symantec – Norton, APJ) misconducts (fraud, having dissented sex with me as he lied, using company resources for personal benefits – hundreds hours phone calls, hanging out with me during office hours, negative impacts on Symantec corporate image), what they do surprise me too. They basically ignore – never process the investigation, covering the serial lying & cheating criminal up, then threaten me. As Warren Buffet said when he decides which company is worth to invest, he values the CEO’s ethic and integrity the most. Being a senior management, David Freer shall walk the talks, instead he has set up a terrible example. How dare Symantec always campaign the company itself as defeat cyber criminals, but in the real world, Symantec acts just like robbers, mafia, & criminals. How ironic!
Dump your share of Symantec, as the company didn’t value ethics and integrity. It allowed David Freer (VP, Symantec – Norton, APJ) spent company money while dating with me (dinners, movies, lots of long distance phone bills, etc..). Even worse, he is a liar!
Symantec’s board, CEO, CFO, consumer head Janice Chaffin (also came from HP) didn’t care it at all, as they all received my complaints with evidences. They are not only never started the investigations, but also shut down the communication between me with the company and David Freer, Suzy Walsham, and all other emplyees (as I worked for Symantec before).
I think CEO not only demostrated his poor hiring ethical standard (probably even worse than Mark Hurb, at least Mark admitted he didn’tlive up to his own ethical standard),but also lack of the skills on decision making (it lasted 6 months till now vs. HP let go Mark Hurd such an important executives within a month), also lack of leadships, business directions. Just see Symantec stock falling fromo Feb. till now, which is a lot!!!!!!
The only thing CEO can do now is to buy Symantec’s stock to save the price, what a poor CEO! While CFO & CIO both chosen to sell their stocks at this moment. Are you brave enough to buy Symantec stock now?
http://www.gurufocus.com/news.php?id=103308