Intel to Buy Finland’s Stonesoft for $389 Million in Cash

Intel Corp., the world’s largest chipmaker, offered to buy Finland’s Stonesoft Oyj for $389 million in cash to expand the product offering of its McAfee security-software business.

Stonesoft investors will get 4.50 euros ($5.90) a share, more than double the May 3 closing price, the companies said today, sending the stock soaring. Stonesoft Chief Executive Officer Ilkka Hiidenheimo, Chairman Hannu Turunen and Timo Syrjaelae, a board member, who together hold 34.7 percent of shares, accepted the offer. The Helsinki-based company’s board recommends the deal.