Effective today, McAfee has officially spun out from Intel, dumping the name Intel Security and operating under new majority ownership that has deep pockets to help the company aggressively acquire technology via mergers and acquisitions to supplement home-grown innovations.
Investment firm TPG is making a $ 1.1 billion equity investment in McAfee in return for 51% ownership, giving it the cash it needs to buy companies for their technology so it can be incorporated faster into McAfee platforms than if developed via R&D.
That’s a different strategy than is used by Intel in its chip business. “Identifying what it takes to run a semiconductor company is quite different from running a cybersecurity company in a rapidly changing threat landscape,” says Intel Security’s CTO Steve Grobman.
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