Confirming preliminary information on this subject, McAfee announced today that it is being bought by a consortium led by American private equity firm Advent International. The deal, which will turn the cybersecurity giant into a private company, is worth $ 14 billion.
Reuters notes that the deal comes amid the pandemic’s shift to telecommuting and the rise in cyberattacks, which has spurred demand for antivirus and digital security software.
Founded by John McAfee in 1987, the company was the first to bring commercial antivirus to market. Ten years ago, after McAfee retired, Intel bought back McAfee shares for $ 7.68 billion, making the company its own division, which was renamed Intel Security in 2014.
In September 2016, a controlling stake in Intel Security was sold to investment fund TPG for $ 3.1 billion. In October 2020, an initial public offering of McAfee shares was carried out, following which the company’s capitalization amounted to $ 8.6 billion.
As part of the current deal, a group of investors will acquire all outstanding McAfee common shares for $ 26 per share. The purchase price is 22.6% higher compared to the closing price of McAfee shares on November 4.
The consortium, led by Advent, includes private equity firms Permira Advisers LLC, Crosspoint Capital Partners and Canada Pension Plan Investment Board.
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