McAfee to shut down Israeli development center

Employees told layoffs are imminent; the company raised $740 million in 2020 Nasdaq IPO

Meir Orbach 13:5712.01.21
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Data security giant McAfee is closing its development center in Israel. The company’s employees received an announcement about plans to quickly shut down operations and lay off its few dozen team members.

 

McAfee went public on Nasdaq in 2020 and it is currently traded at a valuation of $7.7 billion, having raised $740 million in October.

 

McAfee headquarters in California. Photo: Bloomberg McAfee headquarters in California. Photo: Bloomberg

At the end of 2019, Kochavit Almagor was appointed to manage the company’s development center in Tel Aviv. Its head of business operations is Yaniv Nezri. The Israel development center is involved in the development of several of the company’s security products, such as McAfee MVISOIN Insights and McAfee Unified Cloud Edge.

 

Throughout 2020, the company revealed the Israeli center’s involvement in a range of security solutions including data loss prevention (DLP) activities.

 

The company has yet to comment.