Intel (http://www.intel.com) has entered into a definitive agreement to acquire McAfee (http://www.mcafee.com) through the purchase of all of the company’s common stock at US$48 per share in cash, for approximately $7.68 billion.
Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement. McAfee will become a wholly-owned subsidiary of Intel, reporting into Intel’s Software and Services Group. The group is managed by Renée James, Intel senior vice president, and general manager of the group.