Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Endpoint

4/4/2017
12:30 PM
Connect Directly
Google+
Twitter
RSS
E-Mail
50%
50%

McAfee's Back as an Independent Security Firm

Security firm is no longer part of Intel Corp.

McAfee has finalized its planned spinoff from Intel Corp. and as of today returned to its roots as a stand-alone security company.

The move to separate the company was first announced by Intel in September, when the chip company revealed that it planned to sell a majority stake in its McAfee subsidiary to TPG for $3.1 billion after what industry analysts considered a failed investment. Intel purchased McAfee for $7.7 billion in August 2010 in hopes of providing it a security foothold in areas such as wireless mobility and the Internet of Things.

But the combination of Intel and McAfee didn't pan out the way either company had hoped. McAfee said today that the final spinoff deal closed at a value of $4.2 billion, with TPG adding Thomas Bravo as a minority investor in McAfee. Intel, as planned, will retain a 49% stake in McAfee.

The former Intel Security arm's general manager Christopher Young will serve as CEO of the new privately held McAfee.

Steve Grobman, CTO of McAfee and former CTO at Intel Security, says the spinoff allows McAfee to operate more nimbly. "We came to the conclusion that given the pace of changes [in cybersecurity threats] McAfee needs a level of agility to build technology at a rate and pace that matches the threat landscape," Grobman said in an interview with Dark Reading. "As compared with a semiconductor manufacturing company, there's a different technical discipline. The spinout is really about giving both companies the ability to get a lot more focused on our core competency."

It's less about changing direction in strategy for McAfee and more about speeding up the direction it began two years ago with the arrival of Young to Intel Security, Grobman says.

McAfee will continue its security platform focus, as well as moving to cloud security capabilities, he says.

"We are building out our portfolio to adapt to the way the industry is shifting," he says. "As the industry is embracing cloud more aggressively, we're shifting capabilities to the cloud as well."

The new McAfee, which also unveiled a new logo today, will have between 7,500- to 8,000 employees.

"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," Brian Krzanich, Intel CEO, said in a statement. "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."          

Related Content: 

Kelly Jackson Higgins is Executive Editor at DarkReading.com. She is an award-winning veteran technology and business journalist with more than two decades of experience in reporting and editing for various publications, including Network Computing, Secure Enterprise ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
JulietteRizkallah
50%
50%
JulietteRizkallah,
User Rank: Ninja
4/6/2017 | 11:47:41 AM
When M&As are too far reaching
I remember thinking when Intel bought McAfee: "A competitor just disappeared."  But i never thought i would be so spot on.  It is nice to see that McAfee is back with a new focus and a strong leadership.
JulietteRizkallah
50%
50%
JulietteRizkallah,
User Rank: Ninja
4/6/2017 | 11:46:15 AM
When M&As are too far reaching
I remember thinking when Intel bought McAfee: "A competitor just disappeared."  But i never thought i would be so spot on.  It is nice to see that McAfee is back with a new focus and a strong leadership.
The Mainframe Is Seeing a Resurgence. Is Security Keeping Pace?
Ray Overby, Co-Founder & President at Key Resources, Inc.,  8/15/2019
The Flaw in Vulnerability Management: It's Time to Get Real
Jim Souders, Chief Executive Officer at Adaptiva,  8/15/2019
Tough Love: Debunking Myths about DevOps & Security
Jeff Williams, CTO, Contrast Security,  8/19/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
7 Threats & Disruptive Forces Changing the Face of Cybersecurity
This Dark Reading Tech Digest gives an in-depth look at the biggest emerging threats and disruptive forces that are changing the face of cybersecurity today.
Flash Poll
The State of IT Operations and Cybersecurity Operations
The State of IT Operations and Cybersecurity Operations
Your enterprise's cyber risk may depend upon the relationship between the IT team and the security team. Heres some insight on what's working and what isn't in the data center.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-5638
PUBLISHED: 2019-08-21
Rapid7 Nexpose versions 6.5.50 and prior suffer from insufficient session expiration when an administrator performs a security relevant edit on an existing, logged on user. For example, if a user's password is changed by an administrator due to an otherwise unrelated credential leak, that user accou...
CVE-2019-6177
PUBLISHED: 2019-08-21
A vulnerability reported in Lenovo Solution Center version 03.12.003, which is no longer supported, could allow log files to be written to non-standard locations, potentially leading to privilege escalation. Lenovo ended support for Lenovo Solution Center and recommended that customers migrate to Le...
CVE-2019-10687
PUBLISHED: 2019-08-21
KBPublisher 6.0.2.1 has SQL Injection via the admin/index.php?module=report entry_id[0] parameter, the admin/index.php?module=log id parameter, or an index.php?View=print&id[]= request.
CVE-2019-11601
PUBLISHED: 2019-08-21
A directory traversal vulnerability in remote access to backup & restore in earlier versions than ProSyst mBS SDK 8.2.6 and Bosch IoT Gateway Software 9.2.0 allows remote attackers to write or delete files at any location.
CVE-2019-11602
PUBLISHED: 2019-08-21
Leakage of stack traces in remote access to backup & restore in earlier versions than ProSyst mBS SDK 8.2.6 and Bosch IoT Gateway Software 9.2.0 allows remote attackers to gather information about the file system structure.