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The US-based cybersecurity firm McAfee has begun operating as a new standalone company. It marks the closing of the previously announced investment by TPG and Intel Corporation (INTC) to establish what the firm calls a pure-play cybersecurity company. McAfee announced that leading private equity investment firm Thoma Bravo has joined, as a minority investor in the company, through an agreement with TPG. As previously announced, Intel is retaining a 49 percent equity stake.
Intel Senior Vice President and General Manager Christopher Young will lead the new McAfee as Chief Executive Officer. TPG Partner Bryan Taylor has been named Chairman of the Board.
Chris Young, CEO of McAfee said: “Cybersecurity is the greatest challenge of the connected age, weighing heavily on the minds of parents, executives and world leaders alike. As a standalone company with a clear purpose, McAfee gains the agility to unite people, technology and organizations against our common adversaries and ensure our technology-driven future is safe.”
And Brian Krzanich, Intel CEO said: “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. 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.”