An investor group has acquired cybersecurity giant McAfee Corporation for more than $14 billion.
Led by Advent International Corporation, Permira Advisers, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private, and a wholly-owned subsidiary of the Abu Dhabi Investment Authority, the investment group bought all outstanding shares of McAfee common stock for $26 per share in an all-cash transaction.
The price was based on McAfee’s closing share price of $21.21 on November 4. McAfee shareholders will receive $26 in cash for each share of common stock they own, and the deal will close at some point in the first half of 2022.
Once the deal is completed, McAfee common stock will no longer be listed on any public securities exchange.
McAfee sold its enterprise security business to a consortium led by Symphony Technology Group in a deal worth $4 billion in March. Since its split from Intel in early 2017, McAfee has pivoted to cloud services and worked to build out its platform with a focus on its enterprise product portfolio. However, the company is now narrowing its focus and directing its resources to the consumer side of the business in a bid for long-term growth.
McAfee CEO Peter Leav said at the time