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Intel Corp. will pay $7.68 billion to pick up computer-security software maker McAfee Inc.
Santa Clara, CA-based Intel 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, and automobiles to name a few.
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 Chief Executive 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.”
Otellini said the idea to acquire McAfee grew out of a close collaboration that’s been going on for a year and a half, one that will result in unspecified products reaching the market next year.
Santa Clara-based McAfee is one of the world’s largest security technology companies with about $2 billion in revenue last year.

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