Intel buys the security gaint McAfee Inc. for approximately $7.68 billion ($48 per share).

It’s a huge deal for a hardware company, Intel to buy a huge security-oriented software company like McAfee. Intel strongly believes that security has become an integral part of computing, which makes it their business too.

The board of directors of Intel and McAfee have approved the deal.

“With the rapid expansion of growth across a vast array of Internet (Internet)-connected devices, more and more of the elements of our lives have moved online. 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,” said Paul Otellini, Intel president and CEO.

McAfee will operate as a wholly-owned subsidiary, and it will be reporting to Intel’s Software and Services.