Intel to buy McAfee for $7.68B

The chipmaker has bought the anti-malware outfit in unexpected move into security software, saying the partnership will create breakthroughs in wireless mobility.

Chip giant Intel has announced it is to buy security provider McAfee. The deal, which has been agreed by both boards of directors, is valued at US$7.68 billion.

The acquisition, announced on Thursday, will see Intel pay US$48 in cash for each McAfee share--more than 60 percent above its share price at close of market on Wednesday. The security company will become a wholly-owned subsidiary of the processor giant under the deal, which is subject to shareholder approval.

Intel said in a statement that the move "elevates focus on security on par with energy-efficient performance and connectivity. The acquisition augments Intel's mobile wireless strategy [...] Providing protection to a diverse online worlds requires a fundamentally new approach involving hardware, software and services".

Read more of "Intel to buy McAfee for $7.68bn" at ZDNet UK.