Intel To Buy McAfee For $7.68 billion

Intel Corporation has entered into a definitive agreement to acquire McAfee, Inc., through the purchase of all of the companys common stock at $48 per share in cash, for approximately $7.68 billion. Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement. The acquisition reflects that security is now a fundamental component of online computing. Todays security approach does not fully address the billions of new Internet-ready devices connecting, including mobile and wireless devices, TVs, cars, medical devices and ATM machines as well as the accompanying surge in cyber threats. Providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services.