Macafee Sold to Intel for $7.68 Billion

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Intel Corporation has announced plans to purchase McAfee, Inc. for approximately $7.68 billion. Both boards of directors have unanimously approved the deal, which was expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement. Early Thursday morning, Intel stocks were surging on word of the deal. Industry experts speculate that the deal will makes Intel a major player in the security software and services market as the use of electronic gadgets grows. Intel specializes in making computer chips and is based in Santa Clara, Calif. but has a large presence in Oregon, with a campus in Hillsboro. Intel officials said that the purchase will hurt earnings slightly in the first year but they expect it to be a big money-maker in the future.

via: KGW