Shares of Intel Corporation (NASDAQ:INTC) ended Thursday session in red amid volatile trading. The shares closed down -0.02 points or -0.05% at $36.44 with 20.36 million shares getting traded. Post opening the session at $36.35, the shares hit an intraday low of $36.12 and an intraday high of $36.59 and the price vacillated in this range throughout the day. The company has a market cap of $171.88 billion and the numbers of outstanding shares have been calculated to be 4.73 million shares.
On September 8, 2016 Intel Corporation and TPG announced a definitive agreement under which the two parties will establish a newly formed, jointly-owned, independent cybersecurity company. The new company will be called McAfee following transaction close. TPG will own 51 percent of McAfee and Intel will own 49 percent in a transaction valuing the business at approximately $4.2 billion. TPG is making a $1.1 billion equity investment to help drive growth and enhance focus as a standalone business.
Through this transaction, TPG, a leading global alternative asset firm with demonstrated expertise in growing profitable software companies and carve-out investments, and Intel, a global technology leader that powers the cloud and billions of smart, connected computing devices, will work together to position McAfee as a strong independent company with access to significant financial, operational and technology resources. With the new investment from TPG and continued strategic backing of Intel, the new entity is expected to capitalize on significant global growth opportunities through greater focus and targeted investment.
The new company will be one of the world’s largest pure-play cybersecurity companies. Last year, Intel Security unveiled a new strategy that refocused the business on endpoint and cloud as security control points, as well as actionable threat intelligence, analytics and orchestration. This new strategy allows customers to detect and respond to more threats faster and with fewer resources.
“Security remains important in everything we do at Intel and going forward we will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices,” said Brian Krzanich, CEO of Intel. “As we collaborate with TPG to establish McAfee as an independent company, we will also share in the future success of the business and in the market demand for top-flight security solutions, creating long-term value for McAfee’s customers, partners, employees and Intel’s shareholders. Intel will continue our collaboration with McAfee as we offer safe and secure products to our customers.”
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) ended Thursday session in red amid volatile trading. The shares closed down -0.32 points or -1.01% at $31.47 with 19.91 million shares getting traded. Post opening the session at $31.72, the shares hit an intraday low of $31.42 and an intraday high of $31.75 and the price vacillated in this range throughout the day. The company has a market cap of $157.89 billion and the numbers of outstanding shares have been calculated to be 5.03 billion shares.
On Sept. 7, 2016 Evergent Technologies and Cisco announced their alignment to accelerate delivery and monetization of OTT video services for operators and broadcasters.
The collaboration brings together the Evergent proven cloud-based Subscriber Management solution, which is deployed in over 150 countries with recent success in supporting massive OTT viewership for UEFA EURO 2016 in Europe and Asia, and the Cisco Infinite Video technology launched at IBC 2015, which helps service providers, media and entertainment companies deliver content direct to consumers.
At IBC 2016, Cisco and Evergent will jointly demonstrate an end-to-end solution based on the Cisco Infinite Video solution and the Evergent cloud-based subscriber management platform. Evergent and Cisco together provide end-to-end functionality that enables companies to quickly launch and expand OTT services on a global scale.
“Evergent’s carrier grade, cloud-based Subscriber Management system provides extensive functionality and a rich set of APIs that enable fast deployment of OTT services,” said Rajeev Raman, Senior Director, Service Provider Video Software, Cisco. “Evergent works with the world’s largest carriers and broadcasters and brings deep domain experience to the table.”
“OTT video is rapidly becoming a strategic imperative for mobile carriers, broadband providers, cable operators, broadcasters, and content owners,” says Vijay Sajja, Evergent CEO. “Companies around the world are eager to quickly launch OTT services and looking for an end-to-end solution that is easy to deploy, monetize, manage and scale.”