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Intel bought McAfee for $7.68 billions

Hoping to accelerate its move into smartphones and consumer electronics, the chip maker Intel has turned to security software and services as a way to separate its products from those of its rivals.

On Thursday, Intel paid $7.68 billion to acquire McAfee, one of the leading sellers of antivirus and other computer security software. The companies, both based in Santa Clara, Calif., plan to create tight links between Intel’s chips and McAfee’s security technology.

Such ties will be crucial as millions of products, including phones, cars and home appliances, gain more computing horsepower and access to the Web, according to the chief executive at Intel, Paul S. Otellini.

“This will better protect Internet users and their devices,” Mr. Otellini told Wall Street analysts.

Investors appeared flummoxed by the purchase, Intel’s biggest ever, sending the company’s shares down about 3.5 percent, to $18.90, in afternoon trading. McAfee shares rose 57.07 percent, to $47.01.

With the purchase, Intel is spending a huge chunk of the $12.2 billion in cash and short-term investments it had on hand as of last quarter. Analysts expect that other technology companies sitting on large cash hoards, like Microsoft, Apple, Cisco and Google, are primed to make more major acquisitions, though some analysts have urged the companies to give shareholders some of the money in dividends.