Cybersecurity firm McAfee to be sold for more than $14 bn

US cybersecurity steadfast McAfee announced connected Monday it volition beryllium sold to a radical of investors for much than $14 billion, conscionable implicit a twelvemonth aft going public.

The consortium led by Advent International Corporation and Permira Advisers volition wage astir $12 cardinal successful currency to get each of McAfee's outstanding shares, with the outgo rising to much than $14 cardinal erstwhile the company's indebtedness is added.

The capitalist radical besides includes Crosspoint Capital Partners, Canadian pension money CPP Investments, Singapore's sovereign wealthiness money GIC and a subsidiary of the Abu Dhabi Investment Authority sovereign wealthiness fund.

The merchantability is the latest occurrence successful the past of the institution founded by John McAfee successful 1987, the namesake of the antivirus software.

The steadfast erstwhile went nationalist successful 1992, past again successful 1999 pursuing a merger, earlier Intel bought it for astir $7.7 cardinal and delisted it successful 2011.

Following an integration process observers viewed arsenic fraught, Intel successful 2016 past spun McAfee disconnected from its halfway business, keeping a ample involvement but handing power to concern institution TPG Capital.

McAfee returned to the stock market again successful October 2020, taking vantage of a buoyant ambiance for the cybersecurity industry.

After respective years of back-to-back losses, the institution seems acceptable to instrumentality to profitability this year.

The company's sanction remains associated with that of its laminitis John McAfee, who died past June astatine the property of 75 successful a Spanish situation wherever helium was awaiting extradition to the United States implicit taxation fraud charges.

The entrepreneur and programmer, who earlier his decease had go a benignant of guru of cryptocurrencies, resigned from the institution successful 1994.

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© 2021 AFP