Intel is selling off a majority stake in its McAfee unit and turning it back into an independent security company. Investment firm TPG, which will own a 51 percent stake in the new McAfee company, will own the remainder. Intel is receiving $3.1 billion in cash as part of the deal, which is expected to close in next years second quarter. The new company will be valued at $4.2 billion; Intel will continue partnering with McAfee on security. In April, the chipmaker announced it would cut 12,000 jobs.”]
Source: https://www.csoonline.com/article/3117261/intel-sells-off-majority-stake-in-mcafee-unit.html