intel-mcafeeRecently, Intel Corporation made a move to boost protection on its upcoming products, after announcing its acquisition of security software company McAfee. The agreement is reportedly worth approximately $7.68 billion.

Paul Otellini, who is the Intel’s President and CEO, said that:

With the rapid expansion of growth across a vast array of Internet-connected devices, more and more of the elements of our lives have moved online. In the past, energy-efficient performance and connectivity have defined computing requirements. Looking forward, security will join those as a third pillar of what people demand from all computing experiences. The addition of McAfee products and technologies into the Intel computing portfolio brings us incredibly talented people with a track record of delivering security innovations, products and services that the industry and consumers trust to make connecting to the Internet safer and more secure.

According to Renée James who is the Intel’s Senior Vice President and General Manager of the Intel’s Software and Services Group:

Hardware-enhanced security will lead to breakthroughs in effectively countering the increasingly sophisticated threats of today and tomorrow. McAfee is the next step in this strategy, and the right security partner for us. Our current work together has impressive prospects, and we look forward to introducing a product from our strategic partnership next year.

According to the Press release:

The acquisition reflects that security is now a fundamental component of online computing. Today’s security approach does not fully address the billions of new Internet-ready devices connecting, including mobile and wireless devices, TVs, cars, medical devices and ATM machines as well as the accompanying surge in cyber threats. Providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services.

Intel’s officials cited McAfee’s 80 percent gross margins in last year’s production, in addition to recent double-digit growth, as motivating factors for the security software provider to help bolster its upcoming products. The McAfee deal comes after a series of acquisitions by Intel, ranging in scope from gaming to visual computing to embedded device and machine software.