Intel (INTC) said to near sale of McAfee unit to TPG - DJ
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Intel (INTC), TPG to Form Cybersecurity Joint Venture; TPG to Own Majority of McAfee
September 7, 2016 4:08 PM EDTIntel Corporation (Nasdaq: INTC) and TPG announced a definitive agreement under which the two parties will establish a newly formed, jointly-owned, independent cybersecurity company. The new company will be called McAfee following transaction close. TPG will own 51 percent of McAfee and Intel will own 49 percent in a transaction valuing the business at approximately $4.2 billion. TPG is making a $1.1 billion equity investment to help drive growth and enhance focus as a standalone business.
Through this transaction, TPG, a leading global alternative asset firm with demonstrated expertise in growing profitable software companies and carve-out... More
