Intel and TPG Establish McAfee as Leading Independent Cybersecurity Company

Intel and TPG announced a definitive agreement under which the two parties will establish a newly formed, jointly owned, independent cybersecurity company. TPG is an alternative asset firm with over $70 billion of assets under management. The new company, spun out from Intel's "Intel Security" division, will be called McAfee following transaction close.

TPG will own 51 percent of McAfee and Intel will own 49 percent in a transaction valuing the business at approximately $4.2 billion. TPG is making a $1.1 billion equity investment to help drive growth and enhance focus as a standalone business. McAfee will be a pure-play cybersecurity company. TPG and Intel will work together to position McAfee as a strong independent company with access to significant financial, operational and technology resources. With the new investment from TPG and continued strategic backing of Intel, the new entity is expected to capitalize on global growth opportunities through greater focus and targeted investment.

Keywords: Cybersecurity, McAfee, ARC Advisory Group.