McAfee yesterday began operating as a new standalone company, having spun out of Intel.
The launch of McAfee marks the closing of the investment by TPG and Intel to establish a pure-play cybersecurity company with access to significant capital, operational and technology resources.
McAfee also announced that leading 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% equity stake in the new entity.
Intel senior vice-president and GM Chris Young will lead the new McAfee as CEO. TPG partner Bryan Taylor has been named chairman of the board.
“Cybersecurity is the greatest challenge of the connected age, weighing heavily on the minds of parents, executives and world leaders alike,” says Young,. “As a standalone company with a clear purpose, McAfee gains the agility to unite people, technology and organizations against our common adversaries and ensure our technology-driven future is safe.”
Taylor adds: “Since its founding, McAfee has been dedicated to offering its customers industry-leading cybersecurity solutions. Its ongoing commitment to product innovation, a rich partner ecosystem, and superior customer service has created a trusted brand that will thrive as a standalone entity. We look forward to working with the company and our partners to accelerate growth and continue building a leading cybersecurity platform that serves to protect customers in today’s changing environment.
McAfee represents more than 7 500 cybersecurity professionals and holds more than 1 200 security technology patents.