Intel talks to TPG about security sale

According to Bloomberg, Intel is talking to the private equity company Texas Pacific Group about the sale of its security group which includes McAfee bought by Intel in 2010 for $7.7 billion.

Reports say that TPG puts the value of the business at around $3 billion.

Bloomberg says that Permira Holdings and Thoma Bravo which were reported to be interested in buying the group have dropped out of contention.

It has always been a mystery why Intel bought McAfee and the EU ordered Intel to offer competitors any technology it developed as as a result of the acquisition.

Earlier this year, an attempt to sell off all or part of Intel Capital – Intel’s VC arm – was called off following lack of interest.

Intel is currently laying off 12000 employees.