It’s a biggie! Intel Corporation has recently revealed plans of acquiring the Santa Clara based security firm for a whopping $7.68 billion, post which McAfee would become a fully-owned subsidiary of Intel. The deal is subject to shareholder approval and regulatory nods, post which the security firm will be part of Intel’s Software and Services Group.

The McAfee deal – on finalization – will be part of a series of acquisitions done by Intel and is predominantly to increase security priority to similar levels of energy efficiency and Internet connectivity.

Intel plans to pay McAfee $48 per common share in a deal worth $7.68 billion. Founded in 1987, the computer security company specializes in antivirus software, firewalls, data leakage prevention, web filtering, email security, encryption, network intrusion and more.