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charlesarthur : mcafee   3

Intel, TPG to form jointly-owned, cybersecurity company called McAfee • ZDNet
Stephanie Condon:
<p>Intel has reached a deal to sell a majority stake in Intel Security to the private equity firm TPG, creating a jointly-owned, pure-play cybersecurity company called McAfee, Intel announced Wednesday.

Intel will get $3.1bn in cash for the deal, as well as a 49% stake in the new business. TPG will own the remaining 51% and will make a $1.1bn equity investment in the business. The transaction values Intel Security at $4.2bn.

Intel Security general manager Chris Young will be appointed CEO of the new company once the transaction closes. Young published an open letter to Intel Security's stakeholders on Wednesday, outlining the benefits of the deal.</p>

Bought it for $7.7bn in 2011. A relevant detail that somehow fell out of the story. So it gets $3.1bn and has 49% of $4.2bn, or $2.1bn: that's $5.2bn. In other words, $2.5bn of value vanished in five years.
intel  mcafee 
september 2016 by charlesarthur
Intel weighs sale of cyber security business •
Hannah Kuchler and James Fontanella-Khan:
<p>Intel is looking at options for Intel Security, including potentially selling the antivirus software maker formerly known as McAfee which it bought for $7.7bn almost six years ago.

The Silicon Valley chipmaker has been talking to bankers about the future of its cyber security unit in a deal that would be one of the largest in the sector, according to people close to the discussions.

Intel declined to comment.

Private equity buyers are increasingly interested in cyber security companies, anticipating strong cash flow as corporate customers become increasingly worried about protecting their business from cyber attacks. A group of PE firms might club together to buy Intel Security if it is sold for the same price or higher than the $7.7bn Intel originally paid for it.

Earlier this month, Bain Capital sold Blue Coat Security to Symantec for almost twice what it paid the cyber defence company last year. Vista Equity Partners also bought Ping Identity, an authentication service, which had been planning an initial public offering at the start of June.</p>

Because basically McAfee doesn't add any value to Intel, six years on.
mcafee  intel 
june 2016 by charlesarthur
John McAfee apparently tried to trick reporters into thinking he hacked WhatsApp • Gizmodo
William Turton:
<p>McAfee has a history of being shifty with the press about his alleged cybersecurity exploits. In March, for instance, during a media tour that included appearances on CNN and RT, McAfee claimed he would be able to hack into the phone of San Bernadino terrorist Syed Farook. McAfee never proved his claims, and later admitted that he was lying in order to garner a “shitload of public attention.” And earlier this year, McAfee hedged on his terrorism-prevention ideals for America during an interview with CNN about his Libertarian candidacy for president, saying that his strategy for preventing homegrown terrorism was “difficult to explain.”

Now, it seems McAfee has tried to trick reporters again, by sending them phones pre-cooked with malware containing a keylogger, and convincing them he somehow cracked the encryption on WhatsApp. According to cybersecurity expert Dan Guido, who was contacted by a reporter trying to verify McAfee’s claims, McAfee planned to send this reporter two Samsung phones in sealed boxes. Then, experts working for McAfee would take the phones out of the boxes in front of the reporters and McAfee would read the messages being sent on WhatsApp over a Skype call.</p>

mcafee  whatapp  hacking 
may 2016 by charlesarthur

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