Intel has been restructuring its business after it was hit by the declining PC market, announcing plans this year to cut 12,000 jobs in its largest workforce reduction in a decade. The company is trying to refocus around selling chips for cloud computing rather than PCs, which still contribute 60 per cent of sales and 40 per cent of profits.
The chipmaker bought McAfee in 2010 intending to embed its cyber security functionality on to chips, promising the ability to detect threats at a deeper level. Under this plan, device manufacturers would still have to decide to activate this option.
But almost six years later Intel has not yet completed this plan. David DeWalt, the chief executive who helped engineer the sale, left to lead FireEye, a next generation security company and his replacement, Mike DeCesare, left in 2014 and now runs another security company called ForeScout. Intel Security is led by Chris Young, a former Cisco senior vice-president.
Intel renamed the company Intel Security but maintained the McAfee brand for some of its products.