That Intel thing just didn’t work out.
Today marks the completion of the $1.1 billion investment by equity firm TPG that separates McAfee from Intel and sets the security company firmly on its own feet again. TPG obtains 51% ownership in the new/old venture while giving McAfee needed cash to compete in a landscape that has changed severely in its absence.
Christopher D. Young, McAfee’s CEO said this in his first public letter…
Our connected world is under siege by adversaries threatening the digital freedom sacred to us all. An industry with no shortage of problems needs a commensurate supply of solutions. With these challenges in mind, nearly seven months ago, TPG and Intel entered into an agreement to create one of the largest pure-play cybersecurity companies in the world. Today, McAfee is born.
McAfee is hardly a new name in the industry. It’s been a brand trusted by consumers, businesses, governments, and partners the world over for nearly three decades. The McAfee we unveil today points to a future of promise, as it stands on this foundation of leadership.
That promise begins and ends with our customers at its core. We believe the threat defense lifecycle is better when orchestrated as a unified system. We know that consumers expect a digital footprint as safe as it is vast. We realize that even one of the largest cybersecurity companies can’t go it alone. And, we recognize that nothing is possible without our employees, who attack the seemingly impossible as boundless opportunity.
And so, today, we turn the page in the next chapter of this company’s story. It’s one we have written with customers, partners, and employees alike. It readies us to be even more focused and innovative than ever before, with a singular mission of protecting all that matters to those who matter most to us.
While we respect the legacy of our past, we are emboldened by the possibilities of our future. As we promote a new brand, we remain devoted to our core principles. While we adapt to our fluid environment, we commit to a strategy two years in the making. And, as we launch one of the world’s largest cybersecurity companies, we are determined to make it the best.
Today, a new McAfee is born. One that promises customers cybersecurity outcomes, not fragmented products. One that vows to move this industry forward by working with competitors, not just partners. And, one that offers employees a calling, not simply a career.
Today is the first day of a new future, one we share together. Because, together is stronger. Together is better. Together is power.
Christopher D. Young
Chief Executive Officer
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