Private equity firm Symphony Technology Group (STG) has agreed to buy McAfee’s enterprise business for $4 billion, turning the legendary cybersecurity firm into a pure-play consumer business.

The San Jose, Calif.-based platform security giant is following in the footsteps of top rival Symantec, which sold its enterprise business to Broadcom in November 2019 for $10.7 billion and continues to operate its consumer business under the NortonLifeLock brand.

This time around, McAfee’s enterprise business will be rebranded while its consumer business continues to be publicly traded under the McAfee name.

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Source: CRN

By Michael Novinson