Intel And TPG To Jointly Invest In Spin-Out Of Intel Security

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Intel Corporation and TPG today 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.
 
I guess buying McAfee didn't work out the way Intel wanted. Either that or they got whatever they wanted and are just going to dump the rest.
 
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