McAfee is McAfee again; No more Intel Security

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Boxes of McAfee security software are displayed on a shelf at a Target store August 19, 2010 in Colma, California. Intel purchased the security software maker for a reported $7.68 billion. (Photo by Justin Sullivan/Getty Images)

McAfee is starting to operating as a new standalone company after running as a unit of Intel since the company was purchased in 2010 for almost $7.7 billion.

The launch of the standalone McAfee marks the culmination of a deal between TPG Capital and Intel. TPG bought a controlling share of McAfee in September 2016 for $4.2 billion.

Despite its new independence, representatives from both Intel and Thoma Bravo, minority owners under TPG, have insisted that the companies will continue to contribute and support McAfee as it grows.

An Intel spokesperson told FifthDomain the company will maintain a 49 percent stake in McAfee, with TPG owning the other 51 percent.

The greatest challenge of the connected age is cybersecurity, and by becoming a standalone company, McAfee gains the agility to unite people, tech and organizations against common adversaries, ensuring the safety of a technology-driven future, Christopher Young, who remains CEO of McAfee, said in a release.

The new McAfee will apply a greater market focus while also building platform and targeting new financial, operational and technological investments to address the growth opportunities available in the cybersecurity market.

The Intel spokesperson said federal customers shouldn’t expect any disruption as a result of the change.

“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.”