Intel Buys McAfee

If you’ve got stock in the security company McAfee, and you’ve been fretting about the recession that never leaves the party, you’ve got cause to rejoice. Because yesterday, the chip designing megalith Intel announced it was buying McAfee at a premium, paying 48 bucks a share, well over the present stock value of just under $30. According to the San Francisco Chronicle, Intel has decided it needs an expert in-house security unit to help in its expansion into the burgeoning market in smartphones and other wireless devices. In fact, it needs security so much that its directors are willing to drop $7.68 billion on the acquisition.

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