McAfee is going private, with an investor group purchasing the firm for more than $14 billion, according to a news release issued Monday. Last week, Bloomberg reported that a likely sale was imminent.
What is the history of McAfee?
McAfee was founded in 1987 by John McAfee and specialized in computer antivirus programs. In 1994, McAfee, the firm, was sold to Intel for $7.68 billion. In 2014, Intel announced that it would eliminate the McAfee brand name for security software and replace it with “Intel Security.”
Last year, the firm returned to the public market. After selling its Enterprise division to private equity firm Symphony Technology Group for $4 billion in July, McAfee stated that it would continue as a “pure-play consumer cybersecurity” business.
The announcement of the transaction to sell to the investor group, which includes Advent International Corp., Permira Advisers, and Crosspoint Capital Partners, is expected to be completed in the first half of 2022.
