Intel to acquire McAfee

Tech giant Intel announced that it will acquire security firm McAfee for about $7.68 billion. It will become a part of Intel’s Software and Services Group. The deal will close pending McAfee shareholder approval and regulatory clearance.

The acquisition demonstrates that that security is a necessary component as the tech company’s reach expands to handle billions of new Internet-ready devices, such as mobile phones and computers, TVs, cars, medical devices and ATM machines.

The McAfee deal comes after a series of acquisitions by Intel, ranging in scope from gaming to visual computing to embedded device and machine software.