McAfee Eyes Sale To Advent, Permira For More Than $10B: Reports
Summary
McAfee is reportedly nearing a deal to be sold to private equity firms Advent International and Permira just a year after returning to the public markets. The San Jose, Calif.-based consumer cybersecurity company is expected to be valued at more than $10 billion, or around $25 per share, in a deal that could be announced by Monday, according to media reports. McAfee’s stock shot up $4.25 (20.04 percent) to $25.46 per share following reports from Bloomberg and The Wall Street Journal just before the market closed Friday. That valuation included both McAfee’s consumer and enterprise businesses, the later of which was sold to Symphony Technology Group in July for $4 billion. McAfee’s Class B stock, meanwhile, is majority-owned by Intel, while TPG and Thoma Bravo each hold significant minority stakes, according to regulatory filings.