Network Associates is going back to the future, changing the corporate moniker back to McAfee and spinning off a company division as part of a strategy to focus more tightly on security products and services. The Santa Clara, California-based company, which creates and sells applications that protect computer systems, announced Thursday that the Sniffer Technologies product line will be sold to private equity firms Silver Lake Partners and Texas Pacific Group for US$275 million in cash.
Upon completion of the deal, the organization will be known as "McAfee," leveraging its widely known product line. "This is the company's best-known brand, outranking Network Associates in customer surveys," said president Gene Hodges. "Being known as 'McAfee' will help us, particularly in the consumer and international markets."
News source: NewsFactor