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McAfee, the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.

McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.

Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.

In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.

John McAfee founded McAfee Associates in 1987 and ran it until 1994, when

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Intrusion, which provides a family of software products for enterprise security, announced terms for its IPO on Monday.

The Richardson, TX-based company plans to raise $44 million by offering 3.1 million shares (35% insider) at $14.32, the last close of its shares on the OTCQB (INTZ). At the proposed price, Intrusion would command a market value of $242 million. 

Intrusion develops, markets, and supports a family of entity identification, high speed data mining, cybercrime and advanced persistent threat detection products. Its end-user customers include US federal government entities, state and local government entities, large and diverse conglomerates, and manufacturing entities, among others. Its product families include TraceCop, a database of worldwide IP addresses, registrant information, and their associations; Savant, a high speed network data mining and analysis hardware and software product; and Shield, which is currently in development to be a next generation intrusion detection and protection solution.

Intrusion

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Extreme close-up photo of gold-colored computer component.
Enlarge / A look at one of the ion traps.

On Thursday, the startup IonQ announced that the next generation of its ion-trap quantum computer was ready for use. The new machine marks a major jump for the company, going from 11 qubits up to 32. While this still trails the offerings of companies that are using superconducting qubits, the high fidelity of the trapped ions makes them far less prone to errors and far easier to link into complex configurations. So, by at least one measure of performance, this is the most powerful quantum computer yet made.

Perhaps more significantly, IonQ’s CEO told Ars that it expects to be able to double the number of qubits every eight months for the next few years, meaning its hardware should consistently outperform classical computers within two years.

Trapping ions

IonQ isn’t the only company that’s working with trapped ions; Honeywell introduced

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Amazon on Monday announced the new date for its annual global mega-sale, which it said aims to promote small and medium-sized businesses despite accusations by numerous lawmakers and trade associations that the retail giant is trying to crush competition.

“Prime Day,” named for the Amazon subscription service that offers users free delivery and other perks, will be held on October 13-14, the company said.

Launched in 2015, the wildly popular sale is normally held in July but had to be pushed back this year because of the coronavirus pandemic.

Because of lockdowns, Amazon has faced a huge surge in demand for online shopping and delivery of household goods, forcing its warehouses and supply teams into overdrive.

In its statement, the group said it would spend more than $100 million in new promotions to benefit small and medium-sized businesses and help them win new clients.

The company has played a crucial

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US wariness of Chinese tech firms was underlined again Friday, when the Commerce Department sent a letter to companies in the states reportedly telling them they must get a license before exporting certain goods to China’s largest chipmaker, because of concerns about military use of technology.



a traffic light hanging off the side of a building: The Beijing branch of Semiconductor Manufacturing International Corporation. Su Weizhong/Getty Images


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The Beijing branch of Semiconductor Manufacturing International Corporation. Su Weizhong/Getty Images

The Commerce Department said in the letter that exports to Semiconductor Manufacturing International Corporation “may pose an unacceptable risk of diversion to a military end use in the People’s Republic of China,” according to a Saturday report by The New York Times.

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Last year, the US placed restrictions on companies selling gear to Chinese telecommunications giant Huawei , over concerns about Huawei’s relationship with the Chinese government and fears that its equipment could be used to spy on other countries and companies.

And popular video app TikTok,

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Sept. 26 (UPI) — A federal judge has set a hearing for Sunday morning to decide on the fate of the video-sharing app TikTok ahead of Trump’s ban slated to take effect by midnight of the same day.

U.S. District Judge Carl Nichols scheduled the hearing to decide whether or not the United States has the authority to ban the app after the video-sharing app’s owner ByteDance asked the court to block the ban, arguing in court filings that the ban would impede constitutional free-speech protections.

President Donald Trump’s administration initially scheduled the ban against TikTok to take effect last Sunday, but it was delayed to this upcoming Sunday.

The ban slated to take effect by midnight Sunday would remove TikTok from app stores Apple, Google, and Android run and remove access to updates to help make the app move smoothly for millions of Americans who already have the app.

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