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McAfee Enterprise business to be sold for US$4B


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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10 Things To Know About The $4B STG-McAfee Enterprise Deal


10 Things To Know About The $4B STG-McAfee Enterprise Deal
From STG’s brief history in cybersecurity to layoffs and executive turnover in McAfee’s enterprise division to years of rumors about such a split, here are 10 key things to know about STG’s acquisition of McAfee’s enterprise business.
By
Michael Novinson March 08, 2021, 03:49 PM EST
Another New Beginning
Private equity firm Symphony Technology Group (STG) agreed Monday to buy McAfee’s enterprise business for $4 billion, turning the cybersecurity stalwart into a pure-play consumer business. McAfee’s $1.33 billion enterprise business will be rebranded in the coming months while its $1.56 billion consumer business will continue to be publicly traded under the McAfee name, the company said. ....

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