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Security & Privacy

McAfee bought out for $14 Billion

The company will also go private and be taken off the stock market
By Roland Udvarlaki November 9, 2021, 12:11 pm
McAfee logo Source: McAfee

McAfee antivirus is a well-known software that often comes pre-installed on most new laptops and pc builds, and it was also pre-installed on some Samsung Galaxy devices back in the day. It’s also one of the most hated software that often gets deleted when new users first set up their devices, but it’s also well known that it’s a great tool to protect your device from malware and other viruses. McAfee announced today that it will be acquired by an Investor Group for over $14 Billion.

McAfee announced that it would be acquired for over $14 Billion, the purchase price which represents a premium of approximately 22.6% over McAfee’s closing share price of $21.21 on November 4, 2021, says the official announcement. McAfee shareholders will receive $26.00 per share in cash (via TheVerge).

As a quick recap, McAfee was founded in 1987 by John McAfee and it was quickly known as a reliable antivirus software. Later in 1994, McAfee left the company, and it was later acquired by Intel in 2010 for $7.68 billion. In 2014, Intel announced that the McAfee brand would be phased out in the coming years, and it would be renamed to “Intel Security”.

McAfee only returned to the stock market last October, and it’s a surprising move to see the company pull out again, as soon as the deal is closed with the new partners involved. Earlier this summer, McAfee also sold its enterprise business to Symphony Technology Group for $4 billion to cut down its debt, which it successfully did.

In the announcement post, McAfee said that the deal that’s worth $14 billion would include the Investor Group of Advent International Crops, Permira Advisers, and CrossPoint Capital Partners. The deal is expected to close in the first half of 2022, and existing users and subscribers should not be impacted by any of the company changes.

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