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

  • 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.
Market News and Data brought to you by Benzinga APIs
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!