Intel Corp is all set to acquire security software company McAfee Inc. The deal valuing USD 7.68 billion is expected to boost the world's largest chip-maker's computing profile, especially in the wireless service.

Intel will buy all the mutual stocks of McAfee for USD 48 per piece, amounting to USD 7.68 billion in all for the deal.

The purpose of the acquisition is to provide an impressive computing experience especially in the fast-developing business areas which are gradually moving onto wireless mobility.

Intel is planning to bring out a new product from the strategic partnership in the coming year.

Both the companies have agreed upon a definitive contract for the proposed McAfee transaction, which has been approved by the boards of directors.

McAfee, with its 6,100 employee base, has yearly revenue of USD 2 billion in 2009. It offers a range of software-related security solutions, like the McAfee Antivirus and McAfee Firewall.

McAfee is slated to become Intel's fully-owned subsidiary after the deal is complete. Then McAfee will be expected to report to Intel's Software and Services Group, which at present is under the management of James.