McAfee makes it official that it is sold out for $14 billion

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Russia-based Cybersecurity firm McAfee has made it official that it has been sold to a consortium of private investors for $14 billion. Hence, by this year’s end, 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, and GIC Private- a business arm of Abu Dhabi Investment Authority.

Cybersecurity Insiders has learnt from its sources that the deal of acquiring McAfee will be wrapped up for $12 billion with the cost expected to rise to more than $14 billion when the company’s debt is added.

Launched in the year 1987 as an anti-malware solution by John McAfee, Intel Chip making unit in 2010 took the business over. Later, the company’s enterprise business arm was sold to Symphony Technology Group for $4 billion.

More details about the deal will be updated shortly!

Note 1- In June this year, John McAfee died in a Spanish prison whole waiting for extradition to US on some tax related legal tangles. After establishing himself as an entrepreneur in Cybersecurity, the computer programmer engrossed himself in the business of crypto-currencies in such a way that he was once known to hold over 2% of crypto in bitcoins out of the total supply of limitedly generated said virtual currency.

Note 2- In September, there were speculations that the board members of the British American Computer Security Company will merge their business with another security firm FireEye to form a $2 billion business and the deal was expected to be completed by Feb 2022

Note 3- Symphony Technology Group (STG) that acquired McAfee in March this year agreed it was intending to merge the business with FireEye only to form a big integrated technology conglomerate to offer AI driven products to capture the security market in precise. However, within a week of the announcement, the management remains silent on the deal for reasons best known to them.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security