Cybersecurity software company McAfee has announced that it has entered into a definitive agreement to be acquired by an investor group for more than $14 billion.
Led by Advent International Corporation, Permira Advisers, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private, and a wholly-owned subsidiary of the Abu Dhabi Investment Authority, the investment group bought all outstanding shares of McAfee.
As part of the transaction, the Investor Group will acquire all outstanding shares of McAfee common stock for $26.00 per share in an all-cash transaction valued at approximately $12 billion on an equity value basis, and over $14 billion on an enterprise value basis after giving effect to repayment of McAfee debt.
The purchase price represents a premium of approximately 22.6% over McAfee’s closing share price of $21.21 on November 4, 2021, the last trading day prior to media reports regarding a potential sale of McAfee.
Upon completion of the transaction, the Investor Group will take ownership of McAfee.
As a privately held company, McAfee will continue building on its success and proven track record of growth as a pure-play consumer cybersecurity leader following the sale of McAfee’s Enterprise business, and the associated one-time dividend of $4.50 per share, to private equity firm Symphony Technology Group for $4.0 billion, which closed on July 27, 2021.
“This transaction is a testament to McAfee’s market-leading online protection solutions, our talented employees, and outstanding customers and partners,” said McAfee President and Chief Executive Officer, Peter Leav. “We want to thank our employees for their continued hard work and commitment to McAfee. We are thrilled to be partnering with premier firms who truly understand the cybersecurity landscape and have a proven track record of success.”