Intel spins out Intel Security with TPG to form new McAfee valued at $4.2B

 Intel announced today that it has plans to spin off its security unit into a new company that will be owned in-part by private equity firm TPG. Intel will retain a 49 percent ownership stake of the entity with TPG taking the majority stake. In exchange, Intel will be receiving $3.1 billion in cash. Intel’s security unit originated from its acquisition of McAfee. The $7.68 billion… Read More

Source: Techcrunch.com