Intel to buy McAfee in $7.68 billion deal

Intel Corp. is buying computer-security software maker McAfee Inc. for $7.68 billion as the chip-maker adds to its arsenal of tools to serve an increasing array of internet-connected devices, including mobile phones, reports the Associated Press. Intel said security is now a fundamental component of online computing, but today’s approach to security isn’t adequate for the growing availability of internet connections on mobile phones, medical devices, ATMs, automobiles, and elsewhere. The industry needs a new approach that combines software, hardware, and services to meet tomorrow’s needs, the company said. “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,” Intel CEO Paul Otellini said. “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.” Intel is an infrequent acquirer with a history of dabbling in, and retreating from, markets outside its core business of building computer microprocessors. But the company has been persistent in trying to expand into the market for the guts of smart phones and other internet-connected wireless devices—and the purchase of McAfee would help Intel secure those devices from malicious software and other computing threats…

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