Intel to continue buying spree to fill "strategy holes"
Intel has said it will continue buying up companies to fill "holes" in its own business. The company laid out nearly $8 billion to pick up security firm McAfee last month, and picked up TI's cable business for an undisclosed amount and Infineon for $1.4 billion just weeks later.
CEO Paul Otellini said Intel's summer spending spree was intended to strengthen the company. "We don't have an acquisition strategy," he told IDF delegates in San Francisco. "We have a strategy to fill the holes in our [company]. Not all are filled, but the major ones are now."
He said Intel was willing to keep spending "if the right company comes along", but stressed that the majority of Intel's acquisitions have been in the $250 million range, not in the billions. Otellini gave few new details on the fruits of the McAfee deal, reiterating that the first products of the partnership will be revealed early next year.
