SAN JOSE, Calif., JULY 27, 2021— Symphony Technology Group (STG) today announced that a consortium led by it has completed the acquisition of McAfee’s Enterprise business. As a recognized leader in cybersecurity for more than 30 years, McAfee Enterprise will now singularly focus on keeping governments and enterprises safe and secure.
“McAfee’s Enterprise business has been integral to ensuring the protection of the digital assets of the largest enterprises in the world, with over 85% of the Fortune 100 firms being customers today,” said William Chisholm, Managing Partner at STG. “Cybersecurity has never been so important and we’re committed to working with this team to create powerful solutions that give organizations better control of their security.”
The focus on enterprise cybersecurity is pivotal, as large organizations are facing increasingly sophisticated attacks and more evasive techniques with adversaries that are harder to spot with traditional security controls.
“We have always put our customers first and led the industry in creating solutions that help them overcome their security challenges,” said Lynne Doherty, executive vice president, global sales and marketing at McAfee Enterprise. “With an increased focus on the unique security needs and problems our customers face, now more than ever before we will prioritize our strategy, resources and investments to develop and deliver the solutions our enterprise, commercial and government customers need to keep their organizations secure.”
McAfee’s enterprise products continue to be recognized as market-leading by experts, with recent accolades including 2021 Gartner Peer Insights Customers’ Choice for Secure Web Gateway and a Leader in the Forrester Wave Unstructured Data Security Platforms, Q2 2021 report. As a standalone business, the Enterprise team will be able to better focus resources to continue to invest in creating even more powerful solutions for our enterprise, commercial and government customers.
“Our customers need cybersecurity solutions that can be deployed at a rapid pace at scale,” said Shishir Singh, senior vice president and chief product officer at McAfee Enterprise. “With this new focus and the strength of our team, we can further innovate and accelerate our investment into our cloud-first security product portfolio to defend customers from cyber threats and attacks.”
With the transaction with McAfee now complete, the Enterprise business will be re-branded in the coming months.
Symphony Technology Group (STG) is the private equity partner to market leading companies in software, data, and analytics. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world class management teams. STG’s expansive portfolio has consisted of more than 35 global companies. For more information, please visit www.stgpartners.com.
About McAfee Enterprise
McAfee Enterprise is a pure play enterprise cybersecurity company. Positioned to solve enterprise customers’ changing security needs with a world-class solution leading portfolio, McAfee Enterprise delivers on the needs of modern businesses, organizations, and governments around the world. For more information, please visit www.mcafee.com/enterprise.
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