McAfee has announced that it has reached a binding deal to be acquired by a consortium of investors for more than $14 billion.
The investment group, 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, bought all outstanding shares of McAfee.
Commenting on the development, Peter Leav, President and Chief Executive Officer McAfee said in a statement, “We want to thank our employees for their continued hard work and commitment to McAfee. We are thrilled to be partnering with premier firms who truly understand the cybersecurity landscape and have a proven track record of success,”
The purchase price is around 22.6% higher than McAfee’s closing share price of $21.21 on November 4, 2021, the last trading day prior to media reports of a possible sale of McAfee.
McAfee will be owned by the Investor Group after the transaction is completed.
Following the sale of McAfee’s Enterprise business and the associated one-time dividend of $4.50 per share to private equity firm Symphony Technology Group for $4.0 billion, which closed on July 27, 2021, McAfee will continue to build on its success and proven track record of growth as a pure-play consumer cybersecurity leader as a privately held company.