McAfee Stands Alone
April 04, 2017
McAfee
has begun operating as a new standalone company. As a standalone
business, McAfee is one of the world’s largest pure-play cybersecurity
firms. Built on the belief that “Together is Power,” the new McAfee will
expand upon its leading security solutions platform to better enable
customers to effectively identify and orchestrate responses to
cyber-threats.
The launch of McAfee marks the closing of the previously announced
investment by TPG and Intel Corporation (INTC) to establish a pure-play
cybersecurity company with access to significant capital, operational
and technology resources. Additionally, 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 in the new
entity.
With the help of its new investment partners, McAfee will apply greater
market focus, build its platform and target new financial, operational
and technology investments to better address the cybersecurity market’s
significant global growth opportunity. Intel Senior Vice President and
General Manager Chris Young will lead the new McAfee as Chief Executive
Officer. TPG Partner Bryan Taylor has been named Chairman of the Board.
“Cybersecurity is the greatest challenge of the connected age, weighing
heavily on the minds of parents, executives and world leaders alike,”
said Christopher Young, CEO of McAfee. “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.”
“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.”
“Since its founding, McAfee has been dedicated to offering its customers
industry-leading cybersecurity solutions,” said Bryan Taylor, Partner at
TPG Capital and Chairman of the Board at McAfee. “Its ongoing commitment
to product innovation, a rich partner ecosystem, and superior customer
service has created a trusted brand that will thrive as a standalone
entity. We look forward to working with the company and our partners to
accelerate growth and continue building a leading cybersecurity platform
that serves to protect customers in today’s changing environment.”
“McAfee is a global organization with a 30-year history and a brand
known the world over for innovation, trust and collaboration. Given our
years of focus on the security software sector, we see great opportunity
for McAfee to continue to advance and innovate,” said Seth Boro, a
Managing Partner at Thoma Bravo. “Our deep sector knowledge and history
of helping build successful businesses will be an asset to the company,
and we look forward to working with the management team and our
colleagues at TPG and Intel to guide McAfee through its next chapter of
growth.”
The New McAfee
The company also outlined a new strategic vision, focused on innovation,
trust, and collaboration.
Innovation
McAfee represents more than 7,500 of the industry’s most talented
cybersecurity professionals, while holding more than 1,200 security
technology patents and ongoing industry recognition for its products.
McAfee is also home to McAfee Labs, one of the world’s leading sources
for cyber-threat intelligence. McAfee’s people, technology and insights
enable McAfee solutions to correlate real-world data collected from
millions of sensors across key threat vectors and inform the next
generations of McAfee product innovation.
Trust
From the moment the first worm was unleashed on the internet in 1988, to
the massive 2016 Mirai distributed denial of service (DDoS) attack, the
cybersecurity industry has witnessed exponential growth in the volume
and variety of cyber-threats. For the last three decades, McAfee has
earned the trust of consumers, businesses and governments by delivering
practical solutions to address these threats. Today, McAfee’s award
winning products and solutions today protect more than 74.9 million
endpoints daily, including 87% of the world’s largest banks and Fortune
100 firms and more than 263 million consumer endpoints.
Collaboration
McAfee
believes in the power of working together—only when people, technology
and organizations work together can we become safer. The McAfee Security
Innovation Alliance, the industry’s premier technology partnering
program, boasts more than 135 partners globally. Over the past year,
more than 30 partners have integrated or planned integrations with the
McAfee Data Exchange Layer (DXL), the industry-endorsed communication
fabric providing real-time interaction between applications.
Goldman Sachs, & Co., Morgan Stanley & Co. LLC, RBC Capital Markets, and
UBS Investment Bank served as financial advisors to TPG and Thoma Bravo,
and Allen & Company LLC served as financial advisor to Intel. Ropes &
Gray served as legal advisors to TPG, Skadden LLP, Arps, Slate, Meagher
& Flom served as legal advisors to Intel, and Kirkland & Ellis served as
legal advisors to Thoma Bravo.
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