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McAfee could be sold for $ 10 billion

After splitting off its enterprise division, security specialist McAfee could now be sold to a group of investors.
McAfee could be sold for $ 10 billion

The IT security company McAfee could sell itself to financial investors for up to ten billion US dollars. The Wall Street Journal (WSJ) reports, citing sources familiar with the trial. Accordingly, a sale to a group of investment companies under the leadership of Advent International Corp. is planned. And Permira.

According to the report, the IT group, known for its antivirus business, would be valued at around $ 25 per share. The agreement could also be announced following Monday, it said. However, the talks are not yet over.

McAfee has been publicly traded again as a public company since October 2020 and is currently majority-owned by some mutual funds. Since the IPO, the share price has changed only moderately and has now reached a high of around 32 US dollars.

Most recently, the share was around $ 21 but made a massive jump in the price of almost 20 percent to over $ 25 on Friday afternoon just before the market closed. This is likely related to the possible sale that Bloomberg had previously reported, as the WSJ writes.

In 2021, McAfee had already sold its enterprise business for around four billion US dollars to a consortium led by the subsidiary Symphony Technology Group.

McAfee is considered one of the pioneers in the IT security industry and is named after the eccentric founder John McAfee. On March 6, 2021, US judicial authorities brought charges against the 75-year-old antivirus guru of alleged fraud with cryptocurrencies and conspiracy to launder money. John McAfee died in custody in Spain in June this year.

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