Intel said Thursday it plans to acquire security vendor McAfee in a cash deal valued at about $7.68 billion and aimed at enhancing the chip maker's mobile strategy.
Both boards of directors have approved the deal, and McAfee is expected to become a subsidiary within Intel's Software and Services Group.
"Hardware-enhanced security will lead to breakthroughs in effectively countering the increasingly sophisticated threats of today and tomorrow," said Ren
McAfee generated approximately $2 billion in revenue in 2009, and has about 6,100 employees.
The deal is expected to close after McAfee shareholder approval and regulatory clearances.
(More to come.)