- Jan 24, 2011
- 9,378
John McAfee, the founder of the McAfee antivirus company, which he later sold to Intel, is suing the latter for the right to use his name for another company.
John McAfee sold his company to Intel in 2011 or $7.68 billion, when McAfee was one of the top antivirus vendors on the market.
Following a diminishing market share and the public scandal surrounding various charges pressed against John McAfee's in Belize and Guatemala, Intel decided to rename the McAfee brand to Intel Security in early 2014.
The eccentric billionaire, who was one of the biggest Intel critics for the way they were managing his former company, welcomed the decision with a smile on his face.
John McAfee wants to use his name to rebrand MGT
Two years later, McAfee is now suing Intel for the right to use his name for another company, more specifically to rebrand MGT Capital Investments Inc. to John McAfee Global Technologies, Inc..
McAfee's role with the new company is Executive Chairman and Chief Executive Officer, and according to the company's website, "MGT Capital Investments, Inc. (NYSE MKT: MGT) is in the process of acquiring a diverse portfolio of cyber security technologies," showing a clear intent to do business in the same field as Intel Security, formerly McAfee.
When Intel heard of McAfee's plans this past June, the chipmaker threatened to sue MGT if they went ahead with their rebranding.
Read more: John McAfee Sues Intel for the Right to Use His Own Name
John McAfee sold his company to Intel in 2011 or $7.68 billion, when McAfee was one of the top antivirus vendors on the market.
Following a diminishing market share and the public scandal surrounding various charges pressed against John McAfee's in Belize and Guatemala, Intel decided to rename the McAfee brand to Intel Security in early 2014.
The eccentric billionaire, who was one of the biggest Intel critics for the way they were managing his former company, welcomed the decision with a smile on his face.
John McAfee wants to use his name to rebrand MGT
Two years later, McAfee is now suing Intel for the right to use his name for another company, more specifically to rebrand MGT Capital Investments Inc. to John McAfee Global Technologies, Inc..
McAfee's role with the new company is Executive Chairman and Chief Executive Officer, and according to the company's website, "MGT Capital Investments, Inc. (NYSE MKT: MGT) is in the process of acquiring a diverse portfolio of cyber security technologies," showing a clear intent to do business in the same field as Intel Security, formerly McAfee.
When Intel heard of McAfee's plans this past June, the chipmaker threatened to sue MGT if they went ahead with their rebranding.
Read more: John McAfee Sues Intel for the Right to Use His Own Name
