Advent International led consortium to take McAfee Corp private in $14 billion deal

In a statement McAfee Corp said, a consortium led by U.S. private equity firm Advent International has decided to take it private in a $14 billion deal.

The development comes at a time when the coronavirus-induced COVID-19 pandemic had led to remote working; a rise in cyberattacks has also spurred demand for antivirus and digital security software.

As part of the deal, the investor group will acquire all outstanding shares of McAfee common stock for $26 per share in an all-cash deal that values McAfee at about $12 billion on an equity basis.

The purchase price represents a premium of 22.6% over McAfee’s closing share price of $21.21 on November 4.

In a similar development, in August, U.S. cybersecurity company NortonLifeLock Inc had agreed to buy Avast Plc for up to $8.6 billion to create a leader in consumer security software. 

The Advent-led consortium includes private equity firms Permira Advisers LLC, Canada Pension Plan Investment Board, Crosspoint Capital Partners, among others.

Goldman Sachs & Co LLC and Morgan Stanley & Co LLC are the financial advisers to McAfee.



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