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

Thoma Bravo seeking to rapidly consolidate the cyber security sector
  • Reuters (ARN)
  • 17 December, 2018 04:45

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)