McAfee nears deal to sell itself to Advent for over US$10 billion - WSJ
FILE PHOTO: Cyber security firm McAfee holds a virtual IPO at NASDAQ Marketsite in the Manhattan borough of New York City, New York, U.S., October 22, 2020. REUTERS/Carlo Allegri
:Cyber security firm McAfee Corp is nearing a deal to sell itself to U.S. private equity firm Advent International for more than US$10 billion, the Wall Street Journal reported https://on.wsj.com/3bIGfIr 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.
McAfee and Advent did not immediately respond to Reuters requests for comment.
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, U.S.-based NortonLifeLock Inc in August agreed to buy London-listed rival Avast Plc for up to US$8.6 billion.
Shares of McAfee, which made its market debut last year, closed 20per cent higher on Friday at US$25.46.
The company said in March it would sell its enterprise business to a consortium led by Symphony Technology Group for US$4 billion in cash.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni)
