Intel's surprise deal to buy security technology company McAfee, announced this morning, isn't the chip maker's first move into the software business. But it would be its biggest, by far, at a value of $7.68 billion. Intel cites its earlier buys of embedded and mobile software company Wind River Systems and the Havok physics engine company, but those came in at a mere $884 million and $110 million, respectively.

And even with its well-documented missteps, McAfee is one of the big names in security software. Because of that, the deal is being perceived, in part, as Intel sending a message to the others in that business, including its longtime partner in Redmond.

"By acquiring McAfee, Intel essentially shows that it has lost faith in Microsoft and Symantec to safeguard tomorrow’s IT environments," writes the VAR Guy blogger in his initial take on the news.

Here's how Intel describes its motivation in its news release.

The acquisition reflects that security is now a fundamental component of online computing. Today’s security approach does not fully address the billions of new Internet-ready devices connecting, including mobile and wireless devices, TVs, cars, medical devices and ATM machines as well as the accompanying surge in cyber threats. Providing protection to a diverse online world requires a fundamentally new approach involving software, hardware and services.

Inside Intel, the company has elevated the priority of security to be on par with its strategic focus areas in energy-efficient performance and Internet connectivity.

McAfee reported profits of $173 million in 2009 on revenue of $1.93 billion. The company employs 6,100 people. The deal requires approval of McAfee shareholders. Assuming it goes through, the companies say. McAfee would become an Intel subsidiary, reporting into the chipmaker's Software and Services Group.

Both companies are based in Santa Clara, Calif. Here's the full merger agreement, as filed this morning with the SEC.