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In 2010, Intel entered into an agreement to acquire McAfee. They did so by purchasing all of the common stock at $48 per share, for a total cost of approximately $7.68 billion dollars. The purpose of the acquisition was to have a combination of security hardware and software from one company, to better provide better security for customers online devices. According to Intel, "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 to Acquire McAfee, 2010). Intel continued to be the most profitable chip manufacturer until 2020, when their strategic partnership with Apple came to an end. However, the deal with McAfee didn't turn out the way Intel had hoped. By 2016, the process began to separate the Intel Security unit (formerly known as McAfee) from the rest of the company. Intel still retained a 49% share of the company, while asset management firm TPG took a 51% share valued at $4.2 billion dollars (McAfee Is No Longer a Subsidiary of Intel, It's Now Free to Pursue Its Cybersecurity Ambitions, 2017).

References

Intel to Acquire McAfee. (2010, August 19). Intel Newsroom. Retrieved April 4, 2022, from https://newsroom.intel.com/news-releases/intel-to-acquire-mcafee/#gs.w3ot30

McAfee is no Longer a Subsidiary of Intel, it's now Free to Pursue its Cybersecurity Ambitions. (2017, April 4). Tech2. Retrieved April 4, 2022, from https://www.firstpost.com/tech/news-analysis/mcafee-is-no-longer-a-subsidiary-of-intel-its-now-free-to-pursue-its-cybersecurity-ambitions-3700507.html