McAfee, the security provider, has announced that it has begun operating as a new standalone company. Built on the belief that “Together is Power,” the new McAfee will expand upon its leading security solutions platform to better enable customers.
The launch of McAfee marks the closing of the previously announced investment by TPG and Intel Corporation (INTC) to establish a pure-play cybersecurity company with access to significant capital, operational and technology resources. Additionally, 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.
Intel senior vice president and general manager Chris Young will lead the new McAfee as chief executive officer. 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,” said Christopher Young, CEO of McAfee. “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.”
Brian Krzanich, Intel CEO said: “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.”
"Given our years of focus on the security software sector, we see great opportunity for McAfee to continue to advance and innovate,” said Seth Boro, a Managing Partner at Thoma Bravo. “Our deep sector knowledge and history of helping build successful businesses will be an asset to the company."