Tech Giant McAfee Likely to be Purchased by Investor Group for $14 bn

The long-drawn-out journey of cybersecurity software business McAfee took another unexpected turn today, when a group of six investment groups revealed their intention to buy the company for $14 billion.

The firm’s ownership will be transferred to an investor group led by Advent International Permira Advisers LLC, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private, and an Abu Dhabi Investment Authority wholly-owned subsidiary in an all-cash purchase.

The consortium led by Advent International Corporation and Permira Advisers will pay almost $12 billion in cash for all of McAfee’s outstanding shares, with the total cost increasing to more than $14 billion once the company’s debt is included in.

It’s the latest twist in a tangled business saga for the security behemoth, which is largely credited with developing the first anti-virus software in 1987. Since then, Intel purchased it for roughly $8 billion in 2010 and renamed it Intel Security, eventually partnering with TPG seven years later to transform it into a jointly owned, independent cybersecurity firm, with the McAfee name reintroduced.

In October 2020, McAfee re-entered the stock market, capitalizing on a positive climate in the cybersecurity business.  After many years of consecutive losses, the corporation appears to be on the verge of turning a profit this year.