McAfee
The antivirus pioneer founded in 1987 that ping-ponged between owners for a decade — Intel bought it for $7.7B, renamed it Intel Security, sold control to TPG, took it public, then sold it private again for $14B — while its founder lost the right to use his own name in cybersecurity.
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- Country
- United States
- Founded
- 1987, by John McAfee; first commercial antivirus
- Intel acquisition
- $7.7 billion (2010); rebranded Intel Security
- TPG spinout
- 2017; 51% to TPG at $4.2 billion valuation; Intel kept 49%
- IPO
- October 2020; raised $740 million at $9.5 billion valuation
- Take-private
- 2022; Advent-led group, over $14 billion enterprise value
Overview
McAfee was founded in 1987 by John McAfee and brought the first commercial antivirus product to market (Reuters). What followed is one of the strangest ownership odysseys in enterprise software: in just over a decade the company went from public to Intel subsidiary to Intel Security to TPG-controlled spinout to public company again — and then private once more, in what was at the time the largest pure-play cybersecurity acquisition in history (CRN).
The ping-pong decade
Intel bought McAfee for $7.7 billion in 2010 — by which point the founder had long since left and had no involvement with the company — and folded it into a division it renamed Intel Security (Reuters). The marriage didn’t last. In April 2017 Intel spun the unit back out as McAfee LLC, selling a 51% stake to private-equity firm TPG Capital in a deal valuing the business at $4.2 billion including debt, while keeping 49% for itself; Thoma Bravo later joined as a minority investor (Reuters).
Three years later McAfee was public again: the October 2020 IPO raised $740 million at a $9.5 billion valuation, then the highest ever for a newly public cybersecurity vendor (CRN). In July 2021 it sold its enterprise business to Symphony Technology Group for $4 billion to become a pure consumer play with about 20 million subscribers (CRN). Four months later, an investor group led by Advent International — with Permira, Crosspoint Capital, the Canada Pension Plan Investment Board and others — agreed to take the whole company private at $26 a share, a 22.6% premium, in a deal worth over $14 billion on an enterprise basis (Reuters). The transaction completed in 2022.
The founder who lost his own name
While the company changed hands, its founder fought a stranger battle: for the right to call himself McAfee. In September 2016 John McAfee sued Intel after the chipmaker warned that renaming his new venture “John McAfee Global Technologies” would infringe its trademarks; Intel countersued for trademark infringement and unfair competition (Reuters). The July 2017 settlement was amicable but lopsided: McAfee agreed never to use his name, trademark it, or use the phrases “John McAfee Privacy Phone” or “John McAfee Global Technologies” in connection with cybersecurity products — while keeping the right to invoke his name in other contexts, including his history as the man who built and sold McAfee Associates (Reuters). Neither side admitted wrongdoing.
What this profile does not claim
This profile does not cover McAfee’s product history or the founder’s later legal troubles and death — the research pass focused on the corporate ownership arc and the name dispute. The Intel acquisition is dated to its 2010 announcement; the deal closed in 2011, which is why some sources attach that year. The “$14 billion, largest pure-play cybersecurity acquisition” framing is CRN’s at the time of the 2021 announcement; later deals may have surpassed it. The $14 billion is enterprise value including debt repayment; equity value was about $12 billion.
Timeline
- 1987
- John McAfee founds the company and brings the first commercial antivirus to market.
- 2010
- Intel acquires McAfee for $7.7 billion and later rebrands it Intel Security; the founder has no involvement by this point.
- 2016
- Founder John McAfee sues Intel over the right to use his own name on new ventures; Intel countersues for trademark infringement.
- 2017
- Intel spins the unit back out as McAfee LLC, selling 51% to TPG at a $4.2 billion valuation and keeping 49%; Thoma Bravo takes a minority stake. McAfee settles with Intel, giving up the right to use his name on cybersecurity products.
- 2020
- McAfee goes public in October, raising $740 million at a $9.5 billion valuation — then the highest ever for a newly public cybersecurity vendor.
- 2021
- McAfee sells its enterprise business to Symphony Technology Group for $4 billion to focus on consumers; in November an Advent-led group agrees to take the company private for $26 a share.
- 2022
- The take-private completes at over $14 billion enterprise value — the largest pure-play cybersecurity acquisition in history at the time.
What we could not verify
These claims came up in research and could not be confirmed. They are recorded here rather than published as fact or quietly dropped. If you hold a source that settles one, please tell us.
- The Intel acquisition was announced in 2010 and closed in 2011; sources differ on which year to attach, so 2010 (announcement) is used.
- The $14 billion figure is enterprise value including debt repayment; the equity value was about $12 billion.
Sources
3 sources (2 tier 1, 1 tier 2), each opened and read against the claim it supports. Every source is independent of the subject; no first-party material is cited. See the source policy.
Built only from independent sources fetched and read in full: Reuters (tier1, via syndicated copies) and CRN (tier2). No McAfee or Intel company materials, press releases, or website content were used. Wikipedia served only as a lead index and is not cited.
- Supports: $14B take-private, Advent/Permira/Crosspoint/CPPIB consortium, $26/share and 22.6% premium, founded 1987 by John McAfee, first commercial antivirus Open original source
- Supports: 2016 name lawsuit and 2017 settlement terms, $7.7B Intel purchase in 2010, April 2017 TPG 51% spinout at $4.2B valuation with Intel retaining 49%, Thoma Bravo minority Open original source
- Supports: Ownership ping-pong timeline, Oct 2020 IPO ($740M, $9.5B valuation), July 2021 $4B enterprise sale to STG, 20M consumer subscribers, largest pure-play cyber acquisition framing Open original source
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