McAfee is close to deal to sell to Advent for over $ 10 billion: report

0
49

Cybersecurity firm McAfee is on the verge of a deal to sell itself to US private equity firm Advent International for more than $ 10 billion, the Wall Street Journal reported on Friday, citing to people familiar with the matter.

The deal could be announced on Monday, although talks may still fail, the report said.

McAfee and Advent did not immediately respond to Reuters requests for comment.

The potential deal comes at a time when the pandemic shift to remote work and an increase in cyberattacks have fueled demand for antivirus and digital security software.

To create a leading provider of consumer security software, US-based NortonLifeLock agreed in August to buy London-listed rival Avast for up to $ 8.6 billion (around Rs. 63,800 billion).

McAfee shares, which made their market debut last year, closed 20 percent higher at $ 25.46 (around Rs 1,900) on Friday.

The company announced in March that it would sell its corporate business to a consortium led by Symphony Technology for $ 4 billion (approximately Rs.29,700 billion) in cash.

© Thomson Reuters 2021

LEAVE A REPLY

Please enter your comment!
Please enter your name here