McAfee is one of the largest security technology companies in the world and saw nearly $2 billion in revenue last year. Aside from its desktop antivirus software, it also offers end-point and networking products and services, as well as a growing line of security products targeting mobile devices. Under the agreement, McAfee's senior staff will continue to lead the company as a wholly owned subsidiary, reporting into Intel's Software and Services Group.
The acquisition is Intel's largest in its history and the second this week. On Monday, Intel said it would buy Texas Instruments' cable modem product line for an undisclosed amount. The McAfee deal has been approved by the boards of directors at both companies, though it still requires approval from shareholders and regulators for it to become final.