Intel to buy McAfee for $7.68 billion

intelIntel plans to buy security company McAfee for $7.68 billion.

The chipmaker said Thursday it has entered into a definitive agreement to buy all of McAfee’s common stock at $48 per share in cash. The boards of both companies have approved the deal.

Security has become an essential element of online computing, on par with energy-efficient performance and connectivity, Intel 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 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.