McAfee to be acquired by private equity firms in huge $14bn deal

Cybersecurity giant McAfee is to become a private company again after it agreed to be acquired by a group of private equity firms in a $14bn agreement.

The purchase comes just over a year after the company went public through an initial public offering in 2020.

The investor group set to purchase McAfee is led by Advent International and supported by Permira Advisers, Canada Pension Plan Investment Board, GIC Private Limited, Crosspoint Capital and a subsidiary of Abu Dhabi Investment. The group will pay $26 per share in an all-cash transaction to acquire all outstanding shares of McAfee common stock.

According to Security Week, while the acquisition deal is valued at roughly around $12bn on an equity value basis, the deal reaches $14bn on an enterprise value basis after the repayment of McAfee debt.

Earlier this year, McAfee Enterprise and FireEye Products merged into a single company that will have a revenue of almost $2bn. Back in June 2021, McAfee founder John McAfee was found dead in Spain in what was later revealed to be a suicide.

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