Private equity firm Symphony Technology Group (STG) has agreed to buy McAfee’s enterprise business for US$4 billion, turning the legendary cybersecurity firm into a pure-play consumer business.
The platform security company is following in the footsteps of top rival Symantec, which sold its enterprise business to Broadcom in November 2019 for US$10.7 billion and continues to operate its consumer business under the NortonLifeLock brand. This time around, McAfee’s enterprise business will be rebranded while its consumer business continues to be publicly traded under the McAfee name.
“STG is the right partner to continue strengthening our Enterprise business, and the outcome is a testament to the business’ industry-leading solutions and most notably to the outstanding contributions of our employees,” McAfee President and CEO Peter Leav said in a statement. “This transaction will allow McAfee to singularly focus on our consumer business.”
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Private equity firm Symphony Technology Group (STG) has agreed to buy McAfee’s enterprise business for $4 billion, turning the legendary cybersecurity firm into a pure-play consumer business.
Informationweek
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