Intel announced a definitive agreement to buy all of McAfee's common stock fo $7.68 billion, in a move unanimously supported by the board of directors of both companies.
The deal, which is part of Intel's new strategy to focus on security as much as it does on energy efficiency, has still to get the go ahead from McAfee's shareholders and regulators.
However, when it's finalized, McAfee will become a wholly-owned subsidiary of Intel, operating within its Software and Services Group.
This will effectively transform the leading chip maker into one of the biggest players on the computer security market almost overnight.
It's not hard to imagine that Intel will combine its capabilities and resources in the hardware development area with McAfee's extensive security know-how to produce new solutions that will possibly change the security landscape.
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Hardware-enhanced security will lead to breakthroughs in effectively countering the increasingly sophisticated threats of today and tomorrow," commented Renée James, Intel senior vice president and general manager of the company's Software and Services Group.