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McAfee sells enterprise security business in $4bn deal

The cybersecurity giant McAfee has announced that it has entered into a definitive agreement to sell off its enterprise business to the private equity firm Symphony Technology Group (STG) in an all-cash transaction for $4bn.

The sale comes just five months after McAfee went public on the Nasdaq and it plans to become a pure play consumer cybersecurity company going forward. According to McAfee, its enterprise business is a trusted partner for 86 percent of the Fortune 100 firms around the world and last year it brought in $1.3bn in net revenue.

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