McAfee reborn as Intel spin-off closes

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McAfee reborn as Intel spin-off closes

Returns to being one of the largest pure-play security firms.

Anti-virus vendor McAfee is once again an independent company following the completion of its sale to investment firm TPG today.

TPG bought 51 percent of McAfee - which was rebranded Intel Security in 2014 following the chip vendor's 2011, US$7 billion acquisition of the business - for US$3.1 billion late last year.

Intel sold the stake after it decided to refocus towards data centres and the internet of things. It retains a 49 percent holding in McAfee.

The former Intel Security's management team remains in place following the spin-out, including CEO Chris Young and CTO Steve Grobman.

Grobman said all existing McAfee staff, products, and pricing will stay as is.

The business did not integrate well into Intel following its acquisition, continuing to operate as a standalone organisation, which has made its separation from the chipmaker somewhat simpler.

McAfee currently employs around 7500 workers, and claims to protect 263 million consumer end points. It also holds 1200 security technology patents.

Its return to being an independent operator means McAfee can focus more on its core security offering - rather than being part of a larger semiconductor company - as well as innovation and potential acquisitions, the firm said.

McAfee also revealed private equity investment firm Thoma Bravo has become a minority investor in the company.

"With the help of its new investment partners, McAfee will apply greater market focus, build its platform and target new financial, operational and technology investments to better address the cybersecurity market’s significant global growth opportunity," it said.

Under Intel the business made US$1.1 billion in its most recent first half. It is currently valued at US$4.2 billion.

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