Intel to buy McAfee in 7.68 billion deal

 
Chip maker Intel Corp. said Thursday it is buying computer-security software maker McAfee Inc. for 7.68 billion, or 48 per share.
The deal, announced Thursday before the market opened, will help Intel improve the security of its chips by sharpening the software that goes into them. It also opens a new revenue stream for Intel, which will sell security software alongside new chips it's developing for devices such as mobile phones, televisions and even cars. Intel is the No. 1 maker of microprocessors for personal computers and servers.
The 48-per-share price represents a 60 percent premium over McAfee's Wednesday close of 29.93. McAfee shares surged 17.17, or 57 percent, to 47.10 in midday trading Thursday. Intel shares slipped 63 cents, or 3.2 percent, to 18.96.
Intel, which is based in Santa Clara, Calif., said security is now a fundamental component of online computing, but today's approach to security isn't adequate for the growing availability of Internet connections on mobile phones, medical devices, ATMs, automobiles and elsewhere.
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