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The investment group will pay $14 billion to buy McAfee

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News Tech: Cybersecurity software company McAfee’s long and winding history took an interesting turn today when a consortium of six investment firms announced it would buy the company for $14 billion. The purchase price is based on a stock price of $26 per share, representing a 22.6% premium over last Thursday’s closing price, according to the company. It’s worth noting that the stock rose 20% on Friday, giving it a market capitalization of just over $11 billion on Friday’s close.

The company earlier this year sold its enterprise division to Symphony Technology Group for his $4 billion. McAfee is aging, but their consumer security business continues to grow. In its latest earnings report, also released today, the company reports net revenue of $491 million, up 24% year-over-year, 640,000 new subscribers, and more than 20 million total subscribers Did. Investor Group Members Attention.

The consortium consists of Advent International, Permira Advisers, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private Limited and wholly owned subsidiaries of Abu Dhabi Investment Authority. Advent and Permira led today’s acquisitions, the company said. With McAfee, investment groups have acquired a consumer security company that has existed in one form or another since 1987.

Brian Ruder, co-head of technology at Permira, said the acquisition comes at a time when security is a big concern in the consumer market. “The need for personalized, innovative and intuitive online protection services has never been greater,” he said in a statement. He added that his company also likes the brand recognition, his network of partners and loyal customer base. He believes his company can continue to grow by leveraging these positive attributes with his experience working with companies like McAfee.

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