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Intel Works With TPG To Spin Off McAfee As A New Jointly-Owned Independent Cybersecurity Company

Rich Abott By
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Intel Works With TPG To Spin Off McAfee As A New Jointly-Owned Independent Cybersecurity Company

Intel Corporation [INTC] and TPG announced an agreement on Wednesday for them to spin off McAfee as a new jointly-owned independent cybersecurity company six years after Intel initially acquired McAfee.Under the terms of the agreement, TPG will own 51 percent of McAfee while Intel will own 49 percent with the entire business valued at about $.2 billion. TPG is also making a $1.1 billion equity investment in McAfee “to help drive growth and enhance focus as a standalone business” the…

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