McAfee to Be Sold for More Than $14B, Taken Private

An investor group of six venture capitalists will buy McAfee for more than $14 billion and take it private, said the cybersecurity vendor Monday. The $26 a share purchase price is a 22.6% premium over McAfee’s $21.21 closing share price Thursday, the last trading day before media reports surfaced about a potential sale, it said. McAfee went public last year as a pure-play consumer cybersecurity company, with Intel and TPG among its key shareholders. The McAfee board approved the transaction, which is expected to close in 2022's first half. McAfee canceled its Tuesday Q3 earnings call. Revenue in the quarter ended Sept. 25 grew 24% to $491 million, said McAfee.