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Intel Sheds McAfee
Intel has sold the Intel Security business for $3.5bn less than it paid for it six years ago.
Intel Security, previously and better known as McAfee, has been sold to private equity firm TPG for $4.2bn, despite Intel paying $7.7bn for it in 2010.
The chip firm will receive $3.1bn in cash as part of the transaction and retain a 49 per cent minority stake. TPG will take control with a 51 per cent stake, and will invest $1.1bn in the company.
Intel Security is based on the McAfee business and was renamed two years ago. The company will revert to the better known McAfee brand, despite John McAfee reportedly suing Intel over the use of his name.
The transaction is expected to close in the second quarter of 2017, and Chris Young, general manager of Intel Security Group, will become CEO of McAfee.
Young described TPG in an open letter to stakeholders as a “seasoned technology investor” that was “attracted to our current momentum and long-term potential”.
He claimed that McAfee currently protects “more than a quarter of a billion endpoints” and more than 200 million consumers, and is present in two thirds of the world’s 2,000 largest companies.
Intel CEO Brian Krzanich claimed that, despite the sale, security “remains important in everything we do at Intel”.
“We will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices,” he added.
Bryan Taylor, a partner at TPG, said that the company had “long identified the cyber security sector, which has experienced strong growth due to the increasing volume and severity of cyber attacks, as one of the most important areas in technology”.
Intel’s acquisition of McAfee Security in 2010 was intended to enable the company to beef up security around PCs and sell McAfee antivirus and other security software around its core business.
However, the combination never worked as the money to be made in the security business became increasingly focused on the data center and cloud computing.
Courtesy-TheInq
Is Changing Your Password Often A Good Idea?
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Carnegie Mellon University professor Lorrie Cranor, who is the US FTC’s technology guru, has debunked a myth that it is a good idea to change your password often.
Talking to Ars Technica she said that while frequent password changes can lock hackers out they make make security worse.
She told the BSides security conference in Las Vegas that frequent password changes do little to improve security and very possibly make security worse by encouraging the use of passwords that are more susceptible to cracking.
A study published in 2010 by researchers from the University of North Carolina at Chapel Hill more or less confirmed her views. The researchers obtained the cryptographic hashes to 10,000 expired accounts that once belonged to university employees, faculty, or students who had been required to change their passcodes every three months. Researchers received data not only for the last password used but also for passwords that had been changed over time.
By studying the data, the researchers identified common techniques account holders used when they were required to change passwords. A password like “tarheels#1″, for instance (excluding the quotation marks) frequently became “tArheels#1″ after the first change, “taRheels#1″ on the second change and so on. Or it might be changed to “tarheels#11″ on the first change and “tarheels#111″ on the second. Another common technique was to substitute a digit to make it “tarheels#2″, “tarheels#3″, and so on.
“The UNC researchers said if people have to change their passwords every 90 days, they tend to use a pattern and they do what we call a transformation. They take their old passwords, they change it in some small way, and they come up with a new password.”
The researchers used the transformations they uncovered to develop algorithms that could predict changes with great accuracy.
A separate study from researchers at Carleton University showed that frequent password changes hamper attackers only minimally and probably not enough to offset the inconvenience to end users.
Courtesy-Fud
Is Intel Going To Dump McAfee
Intel has run out of ideas about what it is going to do with it its security business and is apparently planning to flog it off.
Five years ago Intel bought McAfee for $7.7bn acquisition. Two years ago it re-branded it as Intel Security. There was talk about chip based security and how important this would be as the world moved to the Internet of Things.
Now the company has discussed the future of Intel Security with bankers, including potentially the outfit. The semiconductor company has been shifting its focus to higher-growth areas, such as chips for data center machines and Internet-connected devices, as the personal-computer market has declined.
The security sector has seen a lot of interest from private equity buyers. Symantec said earlier this month it was acquiring Web security provider Blue Coat for $4.65 billion in cash, in a deal that will see Silver Lake, an investor in Symantec, enhancing its investment in the merged company, and Bain Capital, majority shareholder in Blue Coat, reinvesting $750 million in the business through convertible notes.
However Intel’s move into the Internet of Things does make it difficult for it to exit the security business completely. In fact some analysts think it will only sell of part of the business and keep some key bits for itself.
Courtesy-Fud
Intel’s Security Exec Jumps Ship
Michael Fey has left Intel Security Group to become chief operating officer at Blue Coat. Blue Coat is apparently not the traditional garb of a British Holiday Camp entertainer, but apparently a privately owned network security company.
Fey was one of the few top McAfee managers to stay with the company after it was bought by Intel in 2011. McAfee is now part of Intel Security Group, where Fey had been chief technology officer. Fey said that his role at Blue Coat would be “very similar” to his old job but he was allowed to focus on the cloud and the advanced threats space more.
“Blue Coat had tremendous growth behind the scenes and now I get to focus on taking that growth and trying to get it to the billion-dollar revenue mark,” he told Reuters.
Since the $7.7 billion acquisition by Intel, McAfee has lost senior managers and key talent in technology development, research and sales. At Blue Coat, Fey will replace David Murphy, who will stay on as a strategic adviser to the board.
McAfee’s Biometric Software Coming Soon
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A McAfee security product that will use biometric technology to authenticate users will be available for download by the end of the year, said Kirk Skaugen, senior vice president and general manager of the PC Client Group at Intel, last week.
“Your biometrics basically eliminate the need for you to enter passwords for Windows log in and eventually all your websites ever again,” Skaugen said.
Further product details were not immediately available. But one of the major inconveniences in using PCs and tablets is remembering passwords, which biometrics can tame.
An average user has about 18 passwords and biometric authentication will make PCs easier to use, Skaugen said.
Biometric authentication isn’t new. It’s being used in Apple Pay, where fingerprint authentication helps authorize credit card payments through the iPhone or iPad. Intel has been working on multiple forms of biometric authentication through fingerprint, gesture, face and voice recognition.
McAfee is owned by Intel, and the chip maker is building smartphone, tablet and PC technology that takes advantage of the security software. Intel has also worked on biometric technology for wearable devices like SMS Audio’s BioSport In-Ear Headphones, which can measure a person’s heart rate.
Intel also wants to make PCs and tablets easier to use through wireless charging, display, docking and data transfers. Such capabilities would eliminate the need to carry power brick and cables for displays and data transfers. Such capabilities will start appearing in laptops next year with sixth-generation Core chips code-named Skylake, which will be released in the second half.
FBI Worried About Encryption
October 9, 2014 by admin
Filed under Smartphones
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The U.S. Federal Bureau of Investigation expressed some concerns about moves by Apple and Google to include encryption on smartphones, the agency’s director has stated.
Quick law enforcement access to the contents of smartphones could save lives in some kidnapping and terrorism cases, FBI Director James Comey said in a briefing with some reporters. Comey said he’s concerned that smartphone companies are marketing “something expressly to allow people to place themselves beyond the law,” according to news reports.
An FBI spokesman confirmed the general direction of Comey’s remarks. The FBI has contacted Apple and Google about their encryption plans, Comey told a group of reporters who regularly cover his agency.
Just last week, Google announced it would be turning on data encryption by default in the next version of Android. Apple, with the release of iOS 8 earlier this month, allowed iPhone and iPad users to encrypt most personal data with a password.
Comey’s remarks, prompted by a reporter’s question, came just days after Ronald Hosko, president of the Law Enforcement Legal Defense Fund and former assistant director of the FBI Criminal Investigative Division, decried mobile phone encryption in a column in the Washington Post.
Smartphone companies shouldn’t give criminals “one more tool,” he wrote. “Apple’s and Android’s new protections will protect many thousands of criminals who seek to do us great harm, physically or financially. They will protect those who desperately need to be stopped from lawful, authorized, and entirely necessary safety and security efforts. And they will make it impossible for police to access crucial information, even with a warrant.”
Representatives of Apple and Google didn’t immediately respond to requests for comments on Comey’s concerns.
Adobe Data Found Online
November 18, 2013 by admin
Filed under Around The Net
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A computer security firm has discovered data it says belongs to some 152 million Adobe Systems Inc user accounts, suggesting that a breach reported a month ago is much larger than Adobe has so far disclosed and is one of the largest on record.
LastPass, a password security firm, said that it has found email addresses, encrypted passwords and password hints stored in clear text from Adobe user accounts on an underground website frequented by cyber criminals.
Adobe said last week that attackers had stolen data on more than 38 million customer accounts, on top of the theft of information on nearly 3 million accounts that it disclosed nearly a month earlier.
The maker of Photoshop and Acrobat software confirmed that LastPass had found records stolen from its data center, but downplayed the significance of the security firm’s findings.
While the new findings from LastPass indicate that the Adobe breach is far bigger than previously known, company spokeswoman Heather Edell said it was not accurate to say 152 million customer accounts had been compromised because the database attacked was a backup system about to be decommissioned.
She said the records include some 25 million records containing invalid email addresses, 18 million with invalid passwords. She added that “a large percentage” of the accounts were fictitious, having been set up for one-time use so that their creators could get free software or other perks.
She also said that the company is continuing to work with law enforcement and outside investigators to determine the cost and scope of the breach, which resulted in the theft of customer data as well as source code to several software titles.
The company has notified some 38 million active Adobe ID users and is now contacting holders of inactive accounts, she said.
Paul Stephens, director of policy and advocacy for the non-profit Privacy Rights Clearinghouse, said information in an inactive database is often useful to criminals.
He said they might use it to engage in “phishing” scams or attempt to figure out passwords using the hints provided for some of the accounts in the database. In some cases, people whose data was exposed might not be aware of it because they have not accessed the out-of-date accounts, he said.
“Potentially it’s the website you’ve forgotten about that poses the greater risk,” he said. “What if somebody set up an account with Adobe ten years ago and forgot about it and they use the same password there that they use on other sites?”