Intel selling Intel Security division

Intel is looking for a buyer for its Intel Security, the media reported on Monday morning. Intel Security, previously called McAfee, was bought from the security firm McAfee back in 2011, for $7.7 billion (£5.75bn).

Intel rebranded the company as Intel Security, and aimed to implement its security features at chip level, giving cyber-security a whole new dimension. It seems, though, six years later, the plan had failed.

Intel Security is still a good company, doing valuable work, which is why Intel is expected to sell it for a lot more than it had paid for. Still no word on how much that might be, but IBTimes.co.uk says that if there ever is an acquisition, it might very well be “the biggest ever in the sector.”

Intel, it seems, is not only looking to get away from cyber-security, it is looking to get away from PC chip-making in general. By mid-2017, it plans on laying off 12,000 people, and focus solely on making microchips to power data centres and mobile devices.

The Financial Times reports that a group of PE firms may form an alliance in order to make the acquisition.

Intel Security was created by John McAfee back in 1987, under the name McAfee Associates. The company was incorporated in the state of Delaware in 1992, and became part of Network Associates in 1997, following a merger of McAfee Associates, Network General, PGP Corporation and Helix Software.

On August 19, 2010, Intel announced it will be buying McAfee for $48 a share, or $7.68 billion.

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