Intel has officially completed its acquisition of security giant McAfee, according to a release issued today. Intel announced the $7.68 billion, all-cash deal last August.
According to the release, McAfee will continue developing and selling security products and services under its own brand and “first fruits of their strategic partnership” will be brought to market later in 2011. McAfee will report into Intel’s Software and Services Group, which is led by Intel’s Renée James.
The Intel-McAfee deal was cleared by the EU in January, and approved by the U.S. Federal Trade Commission in late December.
McAfee is one of the largest security technology companies in the world and saw $2 billion in revenue in 2009. Cyber security, whether it be on computers or mobile devices, is a lucrative business as internet use is on the rise. And McAfee also offers smartphone security software, through the <a href="https://techcrunch.com/2010/05/25/mcafee-acquires-smartphone-security-software-company-trust-digital/" acquisitions of Trust Digital and TenCube. At the time of the acquisition, Intel’s president and CEO Paul Otellin called security the “third pillar of what people demand from all computing experiences,” behind energy-efficient performance and connectivity.