SAN FRANCISCO, Aug. 20 (Xinhua) -- In a move to strengthen its online business, the world's largest chip-maker Intel Corp. on Thursday announced that it has agreed to buy computer security company McAfee Inc. for about 7.68 billion U.S. dollars.
The deal have been approved by boards of directors of both companies and is expected to close pending regulatory and other conditions, according to Intel.
Intel noted that the purchase reflects that security is now a fundamental component of online computing.
"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," Paul Otellini, Intel's president and chief executive officer, said in a statement.
"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," he added.
McAfee, founded in 1987 and headquartered in Santa Clara in the U.S. state of California, is billed as the world's largest dedicated security technology company.
McAfee is expected to become a wholly-owned subsidiary of Intel, reporting into Intel's Software and Services Group.