Security firm McAfee acquired by private equity fund

It has been announced that investors (Advent, Permira, Crosspoint Capital, CPP Investments, GIC and ADIA), including private equity fund Advent International, have collectively acquired shares issued by McAfee, which is well known for its security software for PCs and smartphones. The acquisition price is $26 per share, which is a 22.6% premium added to the closing price of $21.21 on the trading day just before the news of the sale.

McAfee was founded in 1987, and its founder, John McAfee, passed away in June. McAfee left McAfee in 1994.

In 2010, Intel acquired McAfee for $7.68 billion. In 2014, McAfee conducted an IPO and became a subsidiary of Intel and TPG, an investment fund, and in 2017 separated from Intel and became an independent pure cyber security company.

“This announcement highlights McAfee’s continued growth and opportunity,” said Jon Winkelried, McAfee’s Chairman of the Board and TPG CEO. “As a leader in consumer cybersecurity, we are proud to protect the digital life of our 20 million consumers worldwide.”

The transaction will provide McAfee with the funding and management resources to further enhance consumer services and meet demand for digital protection services. The investor group will support McAfee to expand its differentiated online protection solutions and pursue long-term value through market expansion. Related information can be found here.