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Intel to acquire McAfee for $7.7 billion

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Santa Clara, Calif.—In a move designed to strengthen its security offerings, Intel Corp. announced plans to acquire security technology company McAfee Inc. for about $7.7 billion.

Intel said it has elevated the priority of security to be on par with its strategic focus on energy-efficient computing performance and Internet connectivity.

Under the acquisition, McAfee will become a wholly owned subsidiary of Intel, reporting to Intel’s Software and Services Group. McAfee’s products include anti-virus software, Internet security and firewall protection.

The deal has been approved by the boards of both companies and is awaiting McAfee shareholder approval and regulatory clearance.

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