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Intel to buy McAfee in $7.68 billion deal

4 years ago August 19, 2010 Aug 19, 2010 Thursday, August 19 2010 Thursday, August 19, 2010 7:57:05 AM CDT in News
Source: Associated Press
By: John Pastorek

Intel Corp. said Thursday it 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.

The $48-per-share price represented a 60 percent premium over McAfee's Wednesday close of $29.93.

McAfee shares surged 58 percent after the deal was announced Thursday to hit $47.42 in premarket trading.

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