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McAfee plans IPO: WSJ
Posted on Thursday, 11 July 2019 08:49
US computer security software giant McAfee is intending to go public, according to the Wall Street Journal.
Citing people with knowledge of the matter, the news provider said if a listing goes ahead, it could raise as much as USD 1.00 billion and value the company at over USD 5.00 billion.
However, they cautioned that there is no guarantee of an initial public offering (IPO) going ahead.
For its part, McAfee has yet to confirm or deny the reports, saying it does not comment on rumours.
The California-headquartered company employs some 7,000 people and has 69,000 enterprise customers.
Established by founder John McAfee in 1987, it introduced the first commercial antivirus software and now claims to be a leader in threat research, threat intelligence and cybersecurity thought leadership.
The company was previously listed on the New York Stock Exchange until being acquired by US technology behemoth Intel in February 2011.
Under the terms of that deal, the buyer paid USD 48.00 per share, equating to a total of USD 7.68 billion, for the business.
Intel subsequently sold a 51.0 per cent stake in the firm to TPG Capital Advisors and Thoma Bravo for USD 2.14 billion in April 2017.
McAfee completed an acquisition of its own in March of last year, paying an undisclosed consideration to pick up Toronto-based virtual private network services provider TunnelBear from Ryan Dochuk and unnamed shareholders.
The largest IPO to have been announced by a software publisher in 2019 to date is Uber’s USD 8.10 billion flotation on the New York Stock Exchange in May, according to Zephyr, the M&A database published by Bureau van Dijk.
Other companies in the sector to have unveiled plans to go public this year include Change Healthcare, Chinese firm Beijing iHandy Mobile and ArcSoft.
© Zephus Ltd