Everything You Must Know about 'The New McAfee'

Article by George Norman (Cybersecurity Editor)

on 05 Apr 2017

Intel’s plan to phase out the McAfee brand and replace it with Intel Security has failed. The security company is once again McAfee – the new McAfee.

"Today, a new McAfee is born," announced in an open letter McAfee CEO Christopher D. Young, who led Intel Security over the past two years. "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."

A quick look at McAfee’s past

Way back in 2010, chip-maker Intel spent a whopping $6.8 billion to purchase McAfee, the security company founded by John McAfee.

Then in 2014, Intel decided that it would be best to rebrand the company and ditch the McAfee brand in favor of Intel Security.

Skip ahead to 2016 and, although Intel Security’s revenue grew by 11% to $1.1 billion, Intel decided to restructure the company. Later that same year, Intel decided that keeping the security company didn’t make sense and in September 2016, Intel announced that it sold its majority stake in Intel Security to TPG. Intel and TPG would become joint owners a new cybersecurity company that would be named McAfee.

Meet the new McAfee

The new McAfee has a redesigned logo, a new strategic vision that’s focused on innovation, trust, and collaboration, and a brand new tagline – Together Is Power.

"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," said Christopher Young.

Allison Cerra, senior vice president and chief marketing officer at McAfee, presented the hidden meaning behind McAfee’s new logo:
  • It’s a shield – the undisputed symbol for defense.
  • It’s comprised of two interlocking elements – representing the power of unity when individuals and organizations work together toward a common goal.
  • It respectfully acknowledges our heritage – from the classic red color to the carefully placed “M” that frames the shield itself.

So who owns the new McAfee?

The new McAfee is a standalone cybersecurity company jointly owned by Intel and TPG, with Intel owning 49% and TPG owning 51% of the company.

According to the official description… TPG is a leading global alternative asset firm with demonstrated expertise in growing profitable software companies and carve-out investments. Founded in 1992, TPG has more than $74 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, Istanbul, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, São Paulo, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio.

"Software has been a key investment sector for TPG over the past five years, and cybersecurity is one of the most important areas within the sector," said TPG Partner Bryan Taylor, who will serve as Chairman of the Board of McAfee. "Cybersecurity is one of the few existential threats facing our world today, and partnering with McAfee is a rare opportunity to be on the cutting edge of the fight against cyber threats. As an independent entity, McAfee is essentially a $2 billion software startup with the opportunity to innovate, expand, and provide world-class cybersecurity solutions."

Thoma Bravo, a leading private equity investment firm, struck a deal with TPG and became a minority investor in the new McAfee. So they own a bit of the new McAfee as well.

"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."

Some more words from Intel and McAfee’s top brass

"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 Intel CEO Brian Krzanich. "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."

What the future holds for McAfee

According to Intel and TPG, the two companies will work together to position McAfee as a strong independent company with access to significant financial, operational, and technology resources.

McAfee’s official website remains McAfee.com and its headquarters remain in Santa Clara, California.

At this time, there are no plans to radically change McAfee products. McAfee will follow the technology roadmap and strategic direction introduced in 2015.

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