McAfee to promote business organization for $4 billion
2 min read
(Reuters) – McAfee Corp explained on Monday it would market its enterprise small business to a consortium led by Symphony Engineering Group for $4 billion in cash, sending the cybersecurity firm’s shares up approximately 3% in premarket trade.

The deal, subject to customary regulatory approvals and closing disorders, is anticipated to close by the stop this calendar year, McAfee mentioned.

In the previous couple decades, McAfee has strengthened its principal cybersecurity application company that focuses on retail shoppers by way of price boosts, new husband or wife programs and excellent retention fees.

Its company small business recorded $1.3 billion in web earnings in fiscal yr 2020, McAfee mentioned.

Goldman Sachs & Co LLC and Morgan Stanley & Co LLC acted as fiscal advisers to McAfee, when Ropes & Gray LLP served as authorized adviser. UBS Investment decision Financial institution, Jefferies LLC and BofA Securities acted as economical advisers, and Paul Hastings LLP acted as authorized adviser to Symphony.

Reporting by Akanksha Rana in Bengaluru Modifying by Krishna Chandra Eluri and Vinay Dwivedi


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