Majority stake in Intel Security sold
Intel Security becomes McAfee again
After the planned integration of security functions into hardware never really got off the ground, Intel is parting with its majority stake in the security specialist McAfee after six years.
Like so many major takeovers, this one was probably above all a big misunderstanding. Intel had actually planned to integrate McAfee 's security functions into its chips when it acquired the security specialist for almost 7.7 billion dollars in 2010. However, this project was never really pushed forward, so that although the two companies operated as one, they more or less worked side by side.
Since Intel announced a major restructuring in the spring in order to reduce its dependence on the PC business and focus more on growth areas such as data centers and the Internet of Things, there has been speculation about a sale of the security business. Now there is finally clarity: 51% of the security division will go to financial investor TPG for 3.1 billion dollars, with Intel retaining the remaining 49%.
The name of the company will be changed back to McAfee as part of the sale of Intel Security. It's a good thing that the well-known brand has survived in some products, after Intel actually wanted it to gradually disappear following the renaming of McAfee to Intel Security in 2014. "Intel should wait and see if they even have the right to use my name," commented McAfee founder John McAfee on the plans. He is currently fighting with Intel in court over the McAfee name after joining MGT Capital in the summer and actually intending to rename the company John McAfee Global Technologies.
The new old McAfee will continue to be led by Christopher Young, who emphasized that the new structure would enable the company to better drive innovation and growth. Ultimately, McAfee will be even stronger. Intel CEO Brian Krzanich said: "Security remains important for Intel." In cooperation with TPG, McAfee could be established as an independent company and participate in its success.
TPG has already announced its intention to invest 1.1 billion dollars in McAfee.
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