Oregon Public Broadcasting

Intel announced Thursday that it has agreed to buy the software security firm McAfee, for more than $7.5 billion.

The deal is the latest in a line of acquisitions sweeping through the high tech sector, as big established firms buy-up smaller businesses that operate in new faster-growing markets.

McAfee is best known for its anti-virus software. Intel spokeswoman Suzy Ramirez says the hope is that by combining that technology with Intel's security enhanced hardware, the company will be able to make more secure wireless devices.

Suzy Ramirez: "We really just see an opportunity here to bring the software closer to the silicon and help Intel strengthen it's security to more effecitvely counter some of the increasingly sophisticated threats we're seeing today and in the future as well."

Intel will pay $48 for each share of McAfee -- 60% more than Wednesday's closing price.

Intel says the deal has been unanimously approved by both companies’ boards of directors and is waiting to be cleared by shareholders and regulators.