McAfee is going solo again. After existing as a sub-brand of Intel (INTC) for the past seven years and being rebranded as Intel Security, the company best know for that little shield logo in your computer’s toolbar has finalized its split from the chipmaker and will now be run as an independent organization.
Intel purchased the antivirus organization for $7.68 billion in 2010. At the time, the chipmaker hoped to fold McAfee’s security capabilities into Intel’s chips to better protect consumers’ devices.
In the first half of 2016, the security company’s revenue grew 11% to $1.1 billion. But with Intel’s decision to restructure in April 2016, eliminating 12,000 jobs to turn its focus toward cloud computing, keeping the security brand didn’t seem to make sense.
“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,” said McAfee CEO Chris Young.
Source: Daniel Howley | Yahoo Finance