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Intel may sell off cyber security division

2016-06-28 03:16 by
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Intel may reportedly sell its security business. Intel Security was formed back in 2010, when the chipmaker bought McAfee, planning to embed cyber-security functionality into chips.

The company is now in talks with bankers about a possible deal that would be one of the largest in the sector. Private equity firms may be interested in buying the assets if the price is not higher than the $7.7bn Intel originally paid for McAfee.

The eventual sale is a part of a bigger restructuring with which Intel wants to to evolve from chips for PCs to silicon for data centers and the Internet of Things. To accelerate the company's transformation, Intel has announced 12,000 job cuts—which is about 11 percent of the worldwide workforce—by the middle of next year.

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