McAfee Continues to Provide Leading Online Protection to Consumers

Rhea-AI Summary

McAfee Corp. (NASDAQ: MCFE) has provided an update on its focus on the consumer sector following the divestiture of its enterprise business in July 2021. This strategic move allows McAfee to concentrate on enhancing consumer online protection services. Recent product launches, including McAfee Total Protection and Protection Score, aim to safeguard consumer privacy and identity. The enterprise segment was sold to Symphony Technology Group, which plans to integrate it with its acquisition of FireEye, forming the new entity Trellix.

Positive

• Consolidation of focus on consumer business enhances market positioning.
• Launch of new products like McAfee Total Protection and Protection Score improves consumer security offerings.

Negative

• None.

With the digital world evolving so rapidly, McAfee stands with consumers to deliver leading online protection solutions

SAN JOSE, Calif.--(BUSINESS WIRE)-- Today, McAfee Corp. (NASDAQ: MCFE, “McAfee”), a global leader in online protection, provided an update regarding its pure-play consumer offering and the previously announced divestiture of its enterprise business.

In July 2021, McAfee completed the sale of its enterprise business. This transaction allowed McAfee to singularly focus on its consumer business and accelerate its strategy to be the leader in online protection for consumers.

“McAfee continues to safeguard the privacy, security and identity of our consumers as the digital world evolves rapidly,” said Gagan Singh, Executive Vice President & Chief Revenue and Product Officer, McAfee. “We continue to stand firm that meaningful protection is a personal right for consumers and have recently rolled out major updates and industry firsts, including McAfee Total Protection and Protection Score, that look out for consumers online, including their privacy and identity.”

The McAfee Enterprise business was purchased by Symphony Technology Group (STG). STG announced late last year that it had also purchased FireEye, a separate intelligence-led security company. STG recently announced the launch of Trellix, the business emerging from the recent combination of McAfee Enterprise and FireEye.

“STG was the right partner to help make this change for enterprise clients and employees, and we are looking forward to seeing the continued industry-leading impact that this newly combined company will have,” said Singh. “What hasn’t changed is that McAfee will continue to be at the side of consumers and partners around the globe.”

McAfee continues to operate as usual, tirelessly working to protect consumers across the globe. We thank all our customers and partners for their continued loyalty and shared goal to confidently enjoy life online.

About McAfee

McAfee Corp. (Nasdaq: MCFE) is a global leader in online protection for consumers. Focused on protecting people, not just devices, McAfee consumer solutions adapt to users’ needs in an always online world, empowering them to live securely through integrated, intuitive solutions that protect their families and communities with the right security at the right moment. For more information, please visit https://www.mcafee.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220120006089/en/

Colton Hightower:

Chightower@webershandwick.com

Source: McAfee Corp.

FAQ

What recent updates has McAfee provided regarding its business operations?

McAfee has updated that it is focusing solely on its consumer offerings following the sale of its enterprise business.

When did McAfee sell its enterprise business?

McAfee completed the sale of its enterprise business in July 2021.

What new products has McAfee launched recently?

McAfee recently launched McAfee Total Protection and Protection Score to enhance consumer online security.

Who purchased McAfee's enterprise business?

McAfee's enterprise business was purchased by Symphony Technology Group.

What is the impact of McAfee's strategic focus on consumers?

The strategic focus on consumers allows McAfee to strengthen its offerings in online protection.