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Intel, best known for its chip manufacturing, announced it is buying computer security software company McAfee for $7.68 billion.
Intel commented that today’s security approach is inadequate for current market, with the growing availability of Internet connections on phones and other devices. The industry, they state, needs a solution that combines software, hardware, and services.
“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,” said Intel CEO Paul Otellini.
Both boards of directors have unanimously approved the deal. The deal still requires McAfee shareholder approval and regulatory clearance.
