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Intel buyout

COMPUTER chip manufacturer Intel is to buy security systems company McAfee for $7.6bn (€5.9bn).

The move, which is the group's largest acquisition, has been unanimously approved by both boards. McAfee investors will receive $48 a share in cash, California-based Intel said in a statement.

Earlier this year, McAfee revealed plans to add an extra 150 jobs in the coming years to the 120 unveiled at the opening of its EMEA headquarters in Mahon, Cork. This will bring its workforce in Ireland to 280.