Is Intel in fact the worst acquirer in tech history? Steve Cheney over at TechCrunch thinks so. And he’s in good company. A lot of people are scratching their heads over the latest announcements coming out of the chipmaker these days. Intel’s recent acquisition binge has been enormous, spending almost $10 billion in the last month alone. But throw in an awe-inspiringly bad M&A track record and buying its way into new markets and product segments is arguably a risky growth strategy. Nevertheless, Intel has its mind set on two objectives: to be in every device on the planet and to become a full solution provider, one of those outfits that can sell you an entire stack of IT. In short, Intel wants to be everywhere and do everything.

Being all things to all people is a tough gig. Especially for a company that has built its brand identity around one single product category. In order to reach these business goals, Intel will have to integrate their latest acquisitions well and then set out to create unique solutions. But Cheney rightly points out that between 1999-2003, Intel spent over $11 billion buying up 40 companies, and the vast majority of those acquisitions failed. In fact, of the 15 largest acquisitions in its history, Intel has shut down or sold off the acquired products in every single case (aside from Wind River which is too recent to include).

Intel of course doesn’t want the media and public to remember how bad they are at M&A. They want everyone to believe that it will be different this time. But that’s a hard sell when Joe Public in general no longer believes the ‘trust us’ line and instead demands that a company ‘prove it’. Intel’s biggest hurdle then won’t be pitching their new image, it’ll be convincing people to let go of the old one. They’ll have to be able to fundamentally demonstrate that something has indeed changed. Not with flashy business models and growth projections, but by providing hard, cold proof in quantifiable, verifiable form. Case studies, success stories, important milestones and executive thought leadership showing a clear understanding of what the future holds and the role Intel will be able to play in it. Most importantly, consistently allowing a view into the ongoing process. I liken it to running a major political campaign. You have to show people not only the qualified leadership but the new ideas, new ways of doing things, fresh thinking, fresh faces and concrete examples of ‘walking the talk’. If you don’t, the past as well as any missteps along the way will continue to haunt you. That’s because while the public’s attention span is alarmingly short, it’s memory is like an elephant.

In the end, success for Intel won’t be a matter of business achievement. It will be measured in achievement of the mind. Winning people over to the ‘new’ Intel. Gaining not only their confidence but also their devotion. After all, getting people to trust Intel with all their IT needs will be no easy task. It’ll be an uphill marathon for sure, one that isn’t won in a sprint but in stages. And lest we forget, the ‘do everything’ part will remain a work in progress that is guaranteed to take years.