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.