I found this article[1] provides an interesting explanation: Intel is trying to integrate anti-virus software into mobile devices chips so that they can catch the mobilization wave. Feels quite similar to Intel's acquisition of many other vertical chip makers[2].

Now, how this is valued is something I still don't understand. Will this be another EBay-skype type of acquisition that'll end up break up again?

[1]: http://uk.finance.yahoo.com/news/intel-looks-to-secure-mcafe...

[2]: http://www.google.com/search?hl=en&tbs=cdr%3A1%2Ccd_min%...