Intel CEO Paul Otellini says that the proposed acquisition of security giant McAfee will enable Intel to innovate across all three key pillars of computing.
"Over the past couple of decades there have been a few critically important inflexions in computing [such as the internet and rise of the personal computer] and we now live in a world of multiple devices," said Otellini during a conference call to announce the McAfee deal.
"Growing alongside [this] is the frequency of security attacks. The number of new threats continues to rise," he added.
"As a result, we have concluded that security has become the third pillar of computing after energy efficient performance and internet connectivity." Hence the decision to purchase McAfee.
"We believe this [acquisition] will better protect devices for our users. It allows Intel to innovate over all three pillars of computing."
"The addition of McAfee products and technologies into the Intel computing portfolio brings us incredibly talented people with a track record of delivering security innovations, products and services that the industry and consumers trust to make connecting to the internet safer and more secure," Otellini stated.
Intel says the acquisition "enables a combination of security software and hardware from one company to ultimately better protect consumers, corporations and governments as billions of devices - and the server and cloud networks that manage them - go online".
If it goes through, McAfee will become a wholly owned but separate subsidiary of Intel costing in the region of $7.7 billion. McAfee will report into Intel's Software and Services Group.
Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions have been met.
McAfee is the world's largest dedicated security technology company with 6,100 employees based in Santa Clara.