Lending credence to the saying ‘ fools and their money are soon parted’, Chipzilla has coughed up $7.68 billion for ‘security firm’ Mcafee. And Intel will pay in cash, says the BBC.
McAfee recently used Vanity Fair to claim two Canadian government agencies’ computer systems were infiltrated as part of a ‘massive global cyber attack spanning at least five years’ and, probably perpetrated by a foreign government.
This is in accordance with Mcafee’s long-standing practice of releasing shlock-horror reports to tout its questionable products. In April last year, “Computers in companies, hospitals and schools around the world were repeatedly rebooting themselves”, p2pnet posted. According to news.com.au, which had the online ’security’ company stating, “We are not aware of significant impact on consumers and believe we have effectively limited such occurrence.” Tell that to Swedish alcohol retail monopoly Systembolaget, said p2pnet. Thousands of computers running Windows XP with Service Pack 3 were affected”, it said.
But ‘No Big Deal’, in effect blogged McPherson Bazza McPherson (right) the man responsible for “overseeing all customer support programs and efforts, promoting multiple methods of support access, expanding self-assistance and self-diagnosing options, and increasing customer retention and loyalty. It was all down to a “false positive”.
“PS”, said McPherson,“In our ongoing efforts to protect our customers from a seemingly endlessly multiplying variety and volume of attacks, today we released a update file that clearly did more harm than good”, he says, adding >>>
There was a legitimate threat and we wanted to protect our customers, as we have done successfully thousands and thousands of times before. But in trying to do so, we created negative and unintended consequences for some very important people. Many of you.
Having talked to literally hundreds of my colleagues around the world and emailed thousands to try and find the best way to correct these issues, let me say this has not been my favorite day. Not for me, or for McAfee. Not by a long shot.
Not only but also, “On January 4, 2006, the Securities and Exchange Commission (the “Commission”) filed a Complaint in the United States District Court for the Northern District of California (the “Court”) against McAfee, Inc. (f/k/a Network Associates, Inc.) (“McAfee”) alleging that from the second quarter of 1998 through 2000, McAfee defrauded investors by engaging in a scheme to overstate its revenue and earnings by hundreds of millions of dollars (SEC v. McAfee, Inc., C-06-0009 (PJH) (N.D. Cal.)). On February 9, 2006, the Court entered a Final Judgment against McAfee, to which McAfee consented without admitting or denying the allegations of the Complaint.”
How do Intel investors feel about the deal’? says the BBC.
Tim Danton, editor of PC Pro magazine, said the announcement came out of the blue.
“Intel does buy a lot of companies and it does have a lot of more cash than anyone else out there. So it making a big acquisition isn’t a surprise, but you may have thought it more likely to buy another hardware firm,” he told the BBC.
“No doubt Intel is looking ahead and seeing that the laptop and desktop market are probably past their heyday and the big growth area is mobile.
“For a company like Intel, it’s nowhere near as strong in the mobile area as it is in the laptop and desktop areas, so it’s probably looking for new ways to get streams and revenues in the future.”
But he added: “Perhaps that is Intel’s point of view but not everybody else’s. The reaction from investors has been quite negative.”