McAfee Corp. ,[4][5] formerly known as McAfee Associates, Inc. from 1987 to 1997 and 2004 to 2014, Network Associates Inc. from 1997 to 2004, and Intel Security Group from 2014 to 2017, is an American proprietary software company focused on online protection for consumers worldwide headquartered in San Jose, California.
The company was purchased by Intel in February 2011;[6][7][8] with this acquisition, it became part of the Intel Security division. In 2017, Intel had a strategic deal with TPG Capital and converted Intel Security into a joint venture between both companies called McAfee.[9][10] Thoma Bravo took a minority stake in the new company, and Intel retained a 49% stake.[11][12] The owners took McAfee public on the NASDAQ in 2020, and in 2022 an investor group led by Advent International Corporation took it private again.[13]
History
1987–1999
The company was founded in 1987 as McAfee Associates, named for its founder John McAfee, who resigned from the company in 1994.[14] McAfee was incorporated in the state of Delaware in 1992. In 1993, McAfee stepped down as head of the company, taking the position of chief technology officer before his eventual resignation. Bill Larson was appointed CEO in his place. Network Associates was formed in 1997 as a merger of McAfee Associates, Network General, PGP Corporation and Helix Software.
In 1996, McAfee acquired Calgary, Alberta, Canada-based FSA Corporation, which helped the company diversify its security offerings away from just client-based antivirus software by bringing on board its own network and desktop encryption technologies.
The FSA team also oversaw the creation of a number of other technologies that were leading edge at the time, including firewall, file encryption, and public key infrastructure product lines. While those product lines had their own individual successes including PowerBroker (written by Dean Huxley and Dan Freedman and now sold by
Products
McAfee primarily develops consumer online protection services to protect a user's online identity, privacy as well as their Windows, Mac and mobile devices.
McAfee brands, products and sub-products include:
Acquisitions
Dr Solomon's Group plc
On June 9, 1998, Network Associates agreed to acquire Dr Solomon's Group plc, the leading European manufacturer of antivirus software, for $642 million in stock.[66][67]
IntruVert Networks
On April 2, 2003, McAfee acquired IntruVert Networks for $100 million. According to Network World, "IntruVert's technology focus is on intrusion-prevention, which entails not just detecting attacks, but blocking them. The IntruVert product line can be used as a passive intrusion-detection system, just watching and reporting, or it can be used in the intrusion-prevention mode of blocking a perceived attack."[68]
Foundstone
Controversies
Channel stuffing lawsuit
On January 4, 2006, the Securities and Exchange Commission filed suit against McAfee for overstating its 1998–2000 net revenue by US$622 million.[106] Without admitting any wrongdoing, McAfee simultaneously settled the complaint, and agreed to pay a $50 million penalty and rework its accounting practices. The fine was for accounting fraud; known as channel stuffing that served to inflate their revenue to their investors.[107]
SEC investigation into share options
In October 2006, McAfee fired its president Kevin Weiss,[108] and its CEO George Samaneuk resigned under the cloud of a recent SEC investigation which also caused the departure of Kent Roberts, the General Counsel, earlier in the year. In late December 2006 both Weiss and Samaneuk had share option grant prices revised upwards by McAfee's board.
See also
- Internet security
- Comparison of antivirus software
External links
References
- McAfee Fact Sheet January 2023, retrieved 17 September 2021^
- Global net revenue of McAfee Corp. from 2018 to 2021 Statista, retrieved 25 September 2001^
- About Us: Home and Home Office Anti Virus Software | McAfee mcafee.com, retrieved May 15, 2012