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McAfree Now a Standalone Company, Implications for Cybersecurity Industry

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McAfee, the globally trusted security provider, has commenced operating as a new standalone company.

As a standalone business, McAfee is one of the world’s largest pure-play cybersecurity firms. Built on the belief that “Together is Power,” the new McAfee will expand upon its leading security solutions platform to better enable customers to effectively identify and orchestrate responses to cyber-threats.

The launch of McAfee marks the closing of the previously announced investment by TPG and Intel Corporation (INTC) to establish a pure-play cybersecurity company with access to significant capital, operational and technology resources.

Additionally, McAfee announced that leading private equity investment firm Thoma Bravo has joined, as a minority investor in the Company, through an agreement with TPG. As previously announced, Intel is retaining a 49 percent equity stake in the new entity.

With the help of its new investment partners, McAfee will apply greater market focus, build its platform and target new financial, operational and technology investments to better address the cybersecurity market’s significant global growth opportunity.

Intel Senior Vice President and General Manager Chris Young will lead the new McAfee as Chief Executive Officer. TPG Partner Bryan Taylor has been named Chairman of the Board.

“Cybersecurity is the greatest challenge of the connected age, weighing heavily on the minds of parents, executives and world leaders alike,” said Christopher Young, CEO of McAfee. “As a standalone company with a clear purpose, McAfee gains the agility to unite people, technology and organizations against our common adversaries and ensure our technology-driven future is safe.”

“We offer Chris Young and the McAfee team our full support as they establish themselves as one of the largest pure-play cybersecurity companies in the industry,” said Brian Krzanich, Intel CEO. “Security remains important to Intel, and in addition to our equity position and ongoing collaboration with McAfee, Intel will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices.”

“Since its founding, McAfee has been dedicated to offering its customers industry-leading cybersecurity solutions,” said Bryan Taylor, Partner at TPG Capital and Chairman of the Board at McAfee. “Its ongoing commitment to product innovation, a rich partner ecosystem, and superior customer service has created a trusted brand that will thrive as a standalone entity. We look forward to working with the company and our partners to accelerate growth and continue building a leading cybersecurity platform that serves to protect customers in today’s changing environment.”

“McAfee is a global organization with a 30-year history and a brand known the world over for innovation, trust and collaboration. Given our years of focus on the security software sector, we see great opportunity for McAfee to continue to advance and innovate,” said Seth Boro, a Managing Partner at Thoma Bravo. “Our deep sector knowledge and history of helping build successful businesses will be an asset to the company, and we look forward to working with the management team and our colleagues at TPG and Intel to guide McAfee through its next chapter of growth.”

The New McAfee
The company also outlined a new strategic vision, focused on innovation, trust, and collaboration.

Innovation
McAfee represents more than 7,500 of the industry’s most talented cybersecurity professionals, while holding more than 1,200 security technology patents and ongoing industry recognition for its products.

McAfee is also home to McAfee Labs, one of the world’s leading sources for cyber-threat intelligence.

McAfee’s people, technology and insights enable McAfee solutions to correlate real-world data collected from millions of sensors across key threat vectors and inform the next generations of McAfee product innovation.

Trust
From the moment the first worm was unleashed on the internet in 1988, to the massive 2016 Mirai distributed denial of service (DDoS) attack, the cybersecurity industry has witnessed exponential growth in the volume and variety of cyber-threats. For the last three decades, McAfee has earned the trust of consumers, businesses and governments by delivering practical solutions to address these threats.

Today, McAfee’s award winning products and solutions today protect more than 74.9 million endpoints daily, including 87% of the world’s largest banks and Fortune 100 firms and more than 263 million consumer endpoints.

Collaboration
McAfee believes in the power of working together—only when people, technology and organizations work together can we become safer. The McAfee Security Innovation Alliance, the industry’s premier technology partnering program, boasts more than 135 partners globally.

Over the past year, more than 30 partners have integrated or planned integrations with the McAfee Data Exchange Layer (DXL), the industry-endorsed communication fabric providing real-time interaction between applications.

Goldman Sachs, & Co., Morgan Stanley & Co. LLC, RBC Capital Markets, and UBS Investment Bank served as financial advisors to TPG and Thoma Bravo, and Allen & Company LLC served as financial advisor to Intel. Ropes & Gray served as legal advisors to TPG, Skadden LLP, Arps, Slate, Meagher & Flom served as legal advisors to Intel, and Kirkland & Ellis served as legal advisors to Thoma Bravo.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

BPP Partners NDPC to Strengthen Data Protection

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Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.

BPP Partners NDPC to Strengthen Data Protection

He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).

Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.

He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.

“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.

Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.

He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.

“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.

He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.

According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.

Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.

He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).

“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.

Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.

He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.

Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.

Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.

 

 


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FG Mulls Fibre Optic Layout to Bridge Internet Gaps

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President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.

FG Mulls Fibre Optic Layout to Bridge Internet Gaps

His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.

He said the fibre optic layout is part of other projects being embarked on.

“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.

“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.

He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.

In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.

The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.

Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.

It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.


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African Startups Raised $345m in Funding in May

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African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.

The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.

It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.

“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.

“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.

Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.

Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.

“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.

From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.

Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.

In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.

 


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