Global security provider McAfee announced on April 4 that it has started functioning again as a new stand-alone company that will give strong emphasis on threats coming from the Internet.
"Cyber security is the greatest challenge of the connected age, weighing heavily on the minds of parents, executives and world leaders alike," McAfee CEO Christopher Young was quoted in a statement as saying. "As a stand-alone 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."
The launch of the rebooted McAfee marks the closing of the previously announced investment by TPG and Intel Corp. to establish a pure-play cybersecurity company with access to significant capital, operational and technology resources. Moreover, McAfee announced that through an agreement with TPG, leading private equity investment firm Thoma Bravo has joined as a minority investor in the company.
Intel is retaining a 49-percent equity stake in the new entity. With the entry of its new investment partners, the company said it will provide 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. Intel SVP and General Manager Chris Young will lead the new McAfee as CEO. TPG Partner Bryan Taylor has been named chairman of the Board.
"Intel will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices," said Brian Krzanich, Intel CEO
Bryan Taylor, partner at TPG Capital and chairman of the Board at McAfee, noted McAfee has been dedicated to offering its customers industry-leading cyber-security solutions and has developed a strong branding position to build a solid cybersecurity forces for its clients.
"McAfee is a global organization with a 30-year history and a brand known the world over for innovation, trust and collaboration. 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, and we look forward to working with the management team and our colleagues at TPG and Intel to guide McAfee through its next chapter of growth."
Over the past year, more than 30 partners have integrated or planned integrations with the McAfee Data Exchange Layer the industry-endorsed communication fabric providing real-time interaction between applications.
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