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McAfee nears deal to sell itself to Advent for over $10 bn

McAfee nears deal to sell itself to Advent for over $10 bn

The potential deal comes at a time when the pandemic-driven shift to remote working and a rise in cyber attacks has spurred demand for antivirus and digital security software.

Reuters
  • Updated Nov 6, 2021 11:38 AM IST
McAfee nears deal to sell itself to Advent for over $10 bnCyber security firm McAfee holds a virtual IPO at NASDAQ Marketsite in the Manhattan borough of New York City, New York, US, October 22, 2020. (Photo: Reuters)

Cyber security firm McAfee Corp is nearing a deal to sell itself to U.S. private equity firm Advent International for more than $10 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The deal could be announced on Monday, although the talks could still fall apart, the report said.

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

Also Read: Antivirus creator John McAfee found dead due to alleged suicide in Spanish prison

The potential deal comes at a time when the pandemic-driven shift to remote working and a rise in cyber attacks has spurred demand for antivirus and digital security software.

Seeking to create a leader in consumer security software, US-based NortonLifeLock Inc in August agreed to buy London-listed rival Avast Plc for up to $8.6 billion.

Shares of McAfee, which made its market debut last year, closed 20% higher on Friday at $25.46.

The company said in March it would sell its enterprise business to a consortium led by Symphony Technology Group for $4 billion in cash.

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Also Read: Surge in REvil, Darkside ransomware attacks in Q2 2021: McAfee Enterprise

Published on: Nov 6, 2021 11:38 AM IST
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