Intel spinout: McAfee is back

Intel is going to spin out its subsidiary Intel Security as a joint venture with investment firm TPG, redubbing the new entity with its old name – McAfee.

Related: John McAfee’s company challenges the name change.

The deal calls for TPG to make a $ 1.1 billion equity investment and own 51 percent of the company, with Intel retaining 49%.

In a joint statement the companies say the investment will be used to help the spinout gain its feet as a stand-alone business and to drive growth.

Intel bought McAfee in 2010 for $ 7.68 billion with the intent of tying McAfee’s security technology with Intel’s chips.

To read this article in full or to leave a comment, please click here

Network World Tim Greene