Intel Security has announced that it is going back to its original name, McAfee, and will now operate as a new standalone company.
The re-launch of McAfee marked the closing of the previously announced investment by TPG and Intel Corporation to establish a pure-play cybersecurity company with access to significant capital, operational, and technology resources.
Additionally, McAfee announced that private equity investment firm Thoma Bravo has joined as a minority investor in the company, through an agreement with TPG. As previously announced, Intel is retaining a 49-percent equity stake in the new entity.
Intel senior vice president and general manager Chris Young has been tapped as the new McAfee chief executive officer. TPG partner Bryan Taylor was 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 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.”
“We offer Chris Young and the McAfee team our full support as they establish themselves as one of the largest pure-play cybersecurity companies in the industry,” said 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.”