NEW YORK (TheStreet) -- Intel (INTC) - Get Report stock is declining 0.79% to $31.30 in pre-market trading on Monday following reports that the technology company may sell its antivirus software unit, according to the Financial Times.
The Santa Clara, CA-based company is considering the sale of Intel Security. The unit, which was previously called McAfee, was acquired for $7.7 billion in 2010.
Private-equity firms have shown strong interest in acquiring cyber security providers because of the estimated solid cash flow and strong demand, the Times noted.
Intel could sell Intel Security for the same price it paid or higher to a group of private-equity firms.
The chip maker has been trimming its business to focus on cloud computing offerings as personal computer sales continue to decline.
Separately, Intel has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in net income and growth in earnings per share.
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