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| McAfee privatized for $14 billion |
McAfee announced on Monday that a consortium led by US private equity firm Advent International is acquiring the cybersecurity company for $14 billion.
The deal comes at a time when the pandemic shift to remote work and an increase in cyberattacks have increased demand for antivirus and digital security software.
The deal includes wholly owned subsidiaries of Permira Advisers, Crosspoint Capital Partners, CPP Investments, GIC Private Limited and the Abu Dhabi Investment Authority.
As part of the deal, Etihad will acquire all of McAfee's issued common stock in a cash transaction of $26 per share, valued at approximately $12 billion per share, and valued at more than $14 billion. of stock. . McAfee debt settlement is activated by the company.
The purchase price represents a premium of approximately 22.6% over the company's closing price of $21.21 on November 4, 2021.
Upon completion of the deal, McAfee will be privately owned by the Federation. The company continues to solidify its success and track record as a leader in consumer cybersecurity. The company was previously sold to private equity firm Symphony Technology Group for $4 billion and the deal closed on July 27, 2021.
Founded in 1987 by American tech entrepreneur John McAfee, the company was the first to bring commercial antivirus software to the market. It was acquired by Intel in 2011 when its founder left office.
And in the past few years. The company has strengthened its core business in cybersecurity software with a focus on resident clients. This is achieved through increased pricing, new affiliate programs, and good retention rates.
The deal is worth more than $14 billion
“This transaction is a testament to our pioneering online security solutions,” said Peter Leaf, McAfee President and CEO. and our talented staff. Dear customers and partners. We would like to thank our employees for their dedication and commitment to the company. We love working with leading companies that understand the cybersecurity landscape and have a proven track record.
The consortium provides the company with financial and operational resources to improve its consumer products and take advantage of rapidly growing consumer demand for digital security services.
In addition, in similar transactions in August. US cybersecurity company Norton LifeLock has agreed to acquire rival Avast. For $8.6 billion, it aims to create a leading consumer security software company.