Intel to buy McAfee for $7.68 billion

Intel says it has entered into a definitive agreement to buy all of McAfee's common stock at $48 per share in cash.

Intel announced Wednesday that it plans to buy security company McAfee for approximately $7.68 billion.

The chipmaker says it has entered into a definitive agreement to buy all of McAfee's common stock at $48 per share in cash. The boards of both companies have approved the deal. Security has become an essential element of online computing, on par with energy-efficient performance and connectivity, Intel said.

"With the rapid expansion of growth across a vast array of Internet-connected devices, more and more of the elements of our lives have moved online," said Intel CEO Paul Otellini in a statement . "In the past, energy-efficient performance and connectivity have defined computing requirements. Looking forward, security will join those as a third pillar of what people demand from all computing experiences.yst at Independent Security Evaluators who disclosed the hole at the security conference.

For more on this story, read Intel to buy McAfee for $7.68 billion on CNET News.

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