Intel’s finally washing its hands of McAfee after seven up and down years, which included a lawsuit last year from John McAfee, after whom the company is named.
The chip maker has divested its majority holdings in McAfee to investment firm TPG for $3.1 billion.
McAfee will now again become a standalone security company, but Intel will retain a minority 49 percent stake. The chip maker will focus internal operations on hardware-level security.
For Intel, dumping majority ownership in McAfee amounts to a loss. It spent $7.68 billion to acquire McAfee in 2010, which was a head-scratcher at the time. Intel’s McAfee acquisition will stand as one of the company’s worst acquisitions.