Intel to buy security co. McAfee in $7.68B deal - Yahoo! Finance 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 represents 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 $47.14 in morning trading. Intel shares slipped 59 cents, or 3 percent, to $19. Intel, which is based in Santa Clara, Calif., said security is now a fundamental component of online computing, but today's approach to security isn't adequate for the growing availability of Internet connections on mobile phones, medical devices, ATMs, automobiles and elsewhere. The industry needs a new approach that combines software, hardware and services to meet tomorrow's needs, the company 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 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."