McAfee #@@#@!! announced #@@#@!! Monday it will sell its enterprise security business to some consortium led by Symphony Technology Group inside a deal worth $4 billion. McAfee, which went public in October, said the offer is intended to bolster its efforts to become a pure-play consumer cybersecurity company.
Since its split from Intel in early 2017, McAfee has pivoted to cloud services and worked to build out its platform using a concentrate on its enterprise product portfolio. However , the company is currently narrowing focus and directing its resources to the consumer side of the business within a bid for long-term growth.
“This transaction will allow McAfee to singularly focus on our consumer business and also to accelerate our technique to be a leader in personal security for consumers, ” said McAfee chief executive Peter Leav, in a statement.
Intel bought McAfee in 2011 and rebranded as Intel Security in 2014. Annually later, Intel Security adjusted its technique to refocus the business enterprise on endpoint security, in addition to threat intelligence, analytics, and orchestration. McAfee was spun out of Intel via a deal with TPG Capital, which owns 51% of McAfee.
Once the deal closes, the McAfee brand is going to be retained and employed for the customer business. The enterprise unit will get a new name and brand refresh within the coming months.