Trend Micro, Ahnlab Gain in Asian Trading on Intel's McAfee Acquisition
Trend Micro Inc., a Japanese maker of antivirus software, and South Korea’s Ahnlab Inc. rose in Asian trading on speculation further acquisitions will follow Intel Corp.’s $7.68 billion purchase of McAfee Inc.
Trend Micro, which climbed as much as 8 percent, closed 4.5 percent higher at 2,281 yen on the Tokyo Stock Exchange. Ahnlab added 1.3 percent to 19,500 won after gaining as much as 6 percent in Seoul.
Security software is becoming more valuable to consumer electronics and semiconductor makers as more devices such as mobile phones, game and music players can connect to the Internet. The McAfee acquisition, which follows Hewlett-Packard Co.’s agreement this week to buy Fortify Software Inc., raises anticipation there will be further consolidation in the antivirus software industry, analysts said.
“Investors think these guys might get bought too,” said Hideaki Tanaka, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo. These companies are “attractive targets for electronics makers.”
Intel yesterday said it will pay $7.68 billion for McAfee, in its largest acquisition, to integrate the antivirus software into its hardware. The chips with built-in security will be introduced in the first half of next year, the company said.