Intel, the microchip giant company has agreed to buy security technology company McAfee worth 5 billion pounds sterling. Under the terms of that agreement, Intel will pay 31 pounds sterling per share, McAfee, nearly 60 percent higher than the closing price Wednesday (18 / 8).

The company said that security now is a fundamental component of online computing, but the current approach is not sufficient to cope with the growing availability of Internet connections through mobile phones, medical devices, ATMs, and more.

McAfee, one of the world’s largest security technology company, will assist in protecting Intel’s microprocessors from malicious software.

The announcement shows its shares soared 58 percent today (19 / 8) reached 30 pounds sterling in pre-market trading. Paul Otellini, Intel’s chief executive, said: “With the rapid expansion of growth in the entire row of devices connected to the Internet, more and more elements of our lives have moved online. ‘In the past, energy efficiency and connectivity has been defined as the computational requirements.

“Upcoming, security will join him as the third pillar of what people feel from all the computing experience.” Dave DeWalt, president and CEO of McAfee, said that cyber attacks are a growing threat. He said: “The cyber threat landscape has changed dramatically over the last few years with millions of new threats that appear every month.”

Intel constantly trying to expand its smart phone market and other wireless devices that connect to the Internet. This has made a series of acquisitions including the latest software company specializing in gaming, visual computing, embedded devices, and software engines.

The deal will reduce the possibility of Intel’s earnings in the first year.

Both boards of directors have unanimously approved the deal, but still requires shareholder approval and clearances McAfee regulations, so the Daily Mail.