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Intel, TPG in early talks to sell McAfee to private equity firm

Intel, TPG in early talks to sell McAfee to private equity firm

Thoma Bravo seeking to rapidly consolidate the cyber security sector

Credit: Dreamstime

Private equity firm Thoma Bravo LLC is in early talks to buy security software company McAfee from TPG Capital and Intel, a source familiar with the matter has revealed.

Talks are at an early stage and there is no guarantee they will lead to a deal, the source said. The talks were reported earlier by CNBC.

Intel and TPG declined to comment, while Thoma Bravo did not immediately respond to a request for comment.

Intel, which paid US$7.7 billion for California-based McAfee in 2011, completed the sale of a 51 per cent stake in the company to TPG at a US$4.2 billion enterprise value last year.

Thoma Bravo has been seeking to rapidly consolidate the cyber security sector.

In October, it announced a US$2.1 billion acquisition of Imperva and last month announced the acquisition of another cyber security firm called Veracode from Broadcom for US$950 million.

Last month, Reuters reported that Thoma Bravo had approached Symantec with a takeover offer.

(Reporting by Joshua Franklin in New York and Vibhuti Sharma in Bengaluru; editing by Grant McCool)


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Tags intelmcafeeThoma BravoTPG Capitalcyber

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