New York, D.C. -- Intel Corp., the world's largest electronic chipmaker, Thursday said it was acquiring McAfee, the security software-maker, for $7.68 billion.
Intel will pay about $48 cash for each McAfee share, a 60 percent premium to Wednesday's closing price.
"With the rapid expansion of growth across a vast array of Internet-connected devices, more and more of the elements of our lives have moved online," said Paul Otellini, Intel president and chief executive officer, in a statement. "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."