TPG to buy majority stake in Intel's McAfee unit for $3b

TPG to buy majority stake in Intel's McAfee unit for $3b

The logo of Intel is seen during the annual Computex computer exhibition in Taipei, Taiwan June 1, 2016. REUTERS/Tyrone Siu

Intel Corp said it would spin out its cyber security division, formerly known as McAfee, and sell a majority stake in it to investment firm TPG for $3.1 billion in cash.

TPG will own 51 percent of the new entity, valuing the entire company at $4.2 billion including debt.

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