HT TECH wants to start sending you push notifications. Click allow to subscribe

McAfee to sell enterprise business for $4 billion

In the last few years, McAfee has strengthened its main cybersecurity software business that focuses on retail customers via price increases, new partner programs and good retention rates.

By: REUTERS
Updated on: Mar 08 2021, 23:40 IST
McAfee enterprise business recorded $1.3 billion in net revenue in fiscal year 2020 (REUTERS)

McAfee Corp said on Monday it would sell its enterprise business to a consortium led by Symphony Technology Group for $4 billion in cash, sending the cybersecurity firm's shares up nearly 3% in premarket trade.

The deal, subject to customary regulatory approvals and closing conditions, is expected to close by the end this year, McAfee said.

You may be interested in

Mobiles Tablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
₹107,999₹149,999
Buy now
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹106,998
Check details
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹87,900
Check details
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,999₹74,999
Buy now
39% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹54,949₹89,999
Buy now
22% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹33,499₹42,999
Buy now
40% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,350₹51,990
Buy now
34% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,299₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
21% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,749₹24,990
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹14,999
Check details

In the last few years, McAfee has strengthened its main cybersecurity software business that focuses on retail customers via price increases, new partner programs and good retention rates.

Its enterprise business recorded $1.3 billion in net revenue in fiscal year 2020, McAfee said.

Goldman Sachs & Co LLC and Morgan Stanley & Co LLC acted as financial advisers to McAfee, while Ropes & Gray LLP served as legal adviser. 

UBS Investment Bank, Jefferies LLC and BofA Securities acted as financial advisers, and Paul Hastings LLP acted as legal adviser to Symphony. 

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 08 Mar, 23:40 IST
Tags:

Sale

Mobiles Tablets Laptops
4% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
₹129,999₹134,999
Buy now
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
13% OFF
Xiaomi 14
  • Matte Black
  • 12 GB RAM
  • 512 GB Storage
₹69,999₹79,999
Buy now
11% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹79,800₹89,900
Buy now
57% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹19,999₹47,000
Buy now
38% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹17,999₹28,999
Buy now
20% OFF
Samsung Galaxy Tab S9 5G 256GB
  • Graphite
  • 8 GB RAM
  • 256 GB Storage
₹86,999₹108,699
Buy now
28% OFF
realme Pad 2 WiFi
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹17,999₹24,999
Buy now
23% OFF
Infinix INBook X1 Neo XL22 Laptop Intel Celeron Quad Core 8 GB 256 GB SSD Windows 11
  • Blue
  • 4 GB RAM
  • 128 GB SSD
₹22,990₹29,990
Buy now
22% OFF
Asus ROG Strix G15 G512LI HN331TS Laptop
  • Electro Punk
  • 8 GB RAM
  • 1 TB SSD
₹70,990₹90,990
Buy now
18% OFF
Asus ROG Strix G15 G513RW HQ137WS Laptop
  • Eclipse Gray
  • 16 GB RAM
  • 1 TB SSD
₹82,990₹101,000
Buy now
28% OFF
Asus ROG Strix G15 G513RM HQ271WS Laptop
  • Eclipse Gray
  • 16 GB RAM
  • 1 TB SSD
₹81,990₹113,990
Buy now
NEXT ARTICLE BEGINS