The $7.68 billion (4.72 million) deal was first put on the table back in August last year but has taken almost seven months to get all the boxes ticked.
Despite the acquisition, McAfee will still operate under its own brand, both for development and retail purposes.
Dave DeWalt will also remain as president of McAfee but report to Rene James, Intel's senior vice president and general manager of the software and services group.
"Intel has added security as a third pillar of what people demand from their experiences with personal computers and other connected devices," said James.
"The acquisition of McAfee adds not only world-leading security products and technologies to Intel's computing portfolio, but also brings incredibly talented people focused on delivering products and services that help make connecting to the mobile Internet safer and more secure."
No date has been set for the first joint products from Intel and McAfee but in a statement confirming the deal had completed, the companies claimed they "planned to bring the first fruits of their strategic partnership to market later this year."
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