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Report: McAfee Could Fetch $8B Valuation In IPO

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Report: McAfee Could Fetch $8B Valuation In IPO

McAfee, partly owned by Intel Corporation (NASDAQ: INTC), is reportedly pursuing an initial public offering that would value the cybersecurity company at $8 billion or more, Bloomberg reported.

McAfee reportedly hired a small handful of banks to oversee an IPO this fall, sources told Bloomberg. The cybersecurity company's roots dates back to 1989 and was bought by Intel for $7.7 billion in 2010. Seven years late, Intel sold a 51% stake in the company to TPG and Thoma Bravo.

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Why It's Important

The past two years have proven to be kind to new cybersecurity stocks, most notably Crowdstrike Holdings Inc (NASDAQ: CRWD), which is up more than 100% since its June IPO. Zscaler Inc (NASDAQ: ZS) is up more than 80% in 2019 and up more than two-fold from its early 2018 IPO.

If reports are accurate, McAfee's valuation rose from similar rumors in July when the company was preparing for an IPO at a $5 billion valuation.

McAfee has yet to confirm any plans for a public offering and it's possible the company could ultimately decide to scrap any plans, according to the Bloomberg report.

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Photo courtesy of McAfee.

Posted-In: Bloomberg Cybersecurity McAfeeNews IPOs Top Stories Media Best of Benzinga

 

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