McAfee has spun out of Intel and is now a standalone company once more, with no relations to Intel.
Previously acquired by Intel in 2011, the company was spun out as an independent entity named Intel Security last year, with investment from TPG Capital and Intel that valued the company at $4.2 billion. That invesment has finally closed and they are moving back to being known as McAfee once again. Previous Intel Security general manager Christopher Young will be taking over as McAfee CEO.
The new McAfee will expand upon its security solutions platform to better enable customers to effectively identify and orchestrate responses to cyber-threats. McAfee will establish its place once again as a pure-play cybersecurity company with access to significant capital, operational and technology resources. Private equity investment firm Thoma Bravo has joined, as a minority investor in the Company, through an agreement with TPG. Intel is retaining a 49 percent equity stake in the new entity.
“Cybersecurity is the greatest challenge of the connected age,” said Christopher Young, CEO of McAfee. “As a standalone company with a clear purpose, McAfee gains the agility to unite people, technology and organisations against our common adversaries and ensure our technology-driven future is safe.”
Brian Krzanich, Intel CEO “Security remains important to Intel, and in addition to our equity position and ongoing collaboration with McAfee, Intel will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices.”
