Intel To Acquire McAfee For $7.68B

It might have caught many folks off-guard but Intel will be acquiring McAfee for a juicy $7.68 billion, which translates to about $48 per share in cash. Intel states that the company will function as a wholly owned subsidiary under the control of its Software and Services group. Intel believes that security is now an important issue within the company, and today’s security approach does not fully address the needs of many of the modern Internet-connected devices. The company expects to introduce an Intel-McAfee product during the next year, and we’ll be keeping an eye to see what they churn out.