Intel to buy McAfee for €5.9bn

INTEL Corp has agreed to buy McAfee for $7.68 billion (€5.96bn), its largest acquisition, adding security software to its chipmaking arsenal.

McAfee investors will receive $48 a share in cash, Santa Clara, California-based Intel, the world’s largest chipmaker, said in a statement. That’s 60% more than McAfee’s closing price on Wednesday. Both boards have unanimously approved the deal, Intel said.

In May, McAfee announced plans to add 150 jobs in the coming years to the 120 unveiled at the opening of its EMEA headquarters in Mahon, Cork, bringing its workforce here to 280.