McAfee Nears Deal To Sell Itself For Over $10B: All You Need To Know

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  • McAfee Corp MCFE is nearing a deal to sell itself to a group including private-equity firms Advent International Corp and Permira for over $10 billion, the Wall Street Journal reports.
  • The deal could value McAfee at $25 a share, implying a 1.8% downside on McAfee's November 5 closing price of $25.46. The company's stock gained 20% on Friday.
  • McAfee makes software that protects users against computer viruses, malware, and other online threats. 
  • McAfee, which returned to the public markets in October 2020, is part-owned by private-equity firms TPG and Thoma Bravo LP and Singapore sovereign-wealth fund GIC Pte. Ltd. 
  • Intel Corp INTC acquired McAfee in 2011 to move the chipmaker's technology beyond computers. Intel sold a majority stake in 2017 to TPG, with Thoma Bravo investing then too. Intel still owns a small stake.
  • With $81 billion in assets under management, Advent has invested in technology for over three decades. Permira has a record of technology deals. 
  • Price Action: MCFE shares closed higher by 20% at $25.46 on Friday.
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