McAfee: McAfee to sell enterprise business for $4 billion – Latest News

McAfee Corp stated on Monday it might promote its enterprise enterprise to a consortium led by Symphony Know-how Group for $4 billion in money, sending the cybersecurity agency’s shares up practically 3% in premarket commerce.

The deal, topic to customary regulatory approvals and shutting circumstances, is anticipated to shut by the top this 12 months, McAfee stated.

In the previous few years, McAfee has strengthened its important cybersecurity software program enterprise that focuses on retail clients by way of worth will increase, new companion packages and good retention charges.

Its enterprise enterprise recorded $1.3 billion in web income in fiscal 12 months 2020, McAfee stated.

Goldman Sachs & Co LLC and Morgan Stanley & Co LLC acted as monetary advisers to McAfee, whereas Ropes & Grey LLP served as authorized adviser. UBS Funding Financial institution, Jefferies LLC and BofA Securities acted as monetary advisers, and Paul Hastings LLP acted as authorized adviser to Symphony.