Intel To Spin Off Its Cyber-Security Unit McAfee
Intel is going to spin out its subsidiary Intel Security, calling the new entity with its old name – McAfee, and selling a majority stake in it to investment firm TPG for USD 3.1 billion in cash. In other words, McAfee, once one of the household names in computer security software, is poised to become an independent business once more. Intel that bought McAfee for USD 7.7 billion in 2011, will get USD 3.1 billion cash and retain a 49 percent stake in the new company. TPG, based in Fort...