Intel to Acquire McAfee for $7.68 Billion

(Ping! Zine) – Intel today announced that it has agreed to buy McAfee Inc. for $48 per share in cash, a deal worth $7.68 billion. The deal has been approved by both companies board of directors and will close following shareholder approval.

Intel president and CEO Paul Otellini stated,“With the rapid expansion of growth across a vast array of InternetInternetInternet-connected devices, more and more of the elements of our lives have moved online. 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.”

Recently, McAfee has shown explosive growth, spurring Intel to acquire the company. McAfee said it will operate as a whole-owned subsidiary, and will be reporting to Intel’s Software and Services Group.