India, Aug. 20 -- Intel Corp said it would buy security software maker McAfee Inc for $7.7 billion to capitalize on rising demand from consumers for better protection of their laptops, smartphones and tablets.
Intel will pay $48 per share in cash for McAfee in its biggest acquisition ever. The price represents a 60 percent premium to McAfee's Wednesday closing price - a level company executives defended as within the range of other large software and security deals.
The pact is the latest in a steady stream of technology deals, including Dell Inc's $1.3 billion purchase of storage company 3PAR Inc earlier this week.
The McAfee deal, which caught some analysts by surprise and worried others because it marries a chipmaker and a software …
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