Private equity firm Symphony Technology Group (STG) agreed Monday to buy McAfee’s enterprise business for $4 billion, turning the cybersecurity stalwart into a pure-play consumer business. McAfee’s $1.33 billion enterprise business will be rebranded in the coming months while its $1.56 billion consumer business will continue to be publicly traded under the McAfee name, the company said.
“We are excited about the decision to divest the enterprise business,” McAfee President and CEO Peter Leav told investors Monday morning. “It is a terrific business. We‘re also excited about STG as a partner; [we’re] excited for our employees.”
From STG’s brief history in cybersecurity to layoffs and executive turnover in McAfee’s enterprise division to years of rumors about such a split, here are the 10 biggest things to know about STG’s monster acquisition of McAfee’s enterprise business.