Network Associates adopts new name

The security firm will change its name to reflect its most prominent product line. Security specialist Network Associates is changing its name and selling one of its product lines in a move to boost profitability. The company announced on Thursday that it is changing its name to McAfee, the name of its most prominent product line and the name of a company that Network Associates acquired. In addition, it will sell its Sniffer line of manageability tools to Silver Lake Partners and Texas Pacific Group for $275m (£155m) in cash.

Silver Lake and Texas Pacific will then form a new company, called Network General. Both companies are known as turnaround artists. Silver Lake, for instance, helped Seagate go private, and then public again.

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