McAfee To Be Taken Private in $14 Billion Deal Including Debt

An investor group led by buyout firms Advent International, Permira Advisers and others agreed to take McAfee private in a deal that values the cybersecurity software maker at more than $14 billion including debt. From a report: The private equity consortium will pay $26 a share in cash, according to a statement Monday. Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Pvt Ltd. and a wholly owned subsidiary of the Abu Dhabi Investment Authority are also part of the group of buyers. The purchase price represents a premium of about 23% over McAfee's closing share price of $21.21 on Nov. 4, the day before Bloomberg News first reported details of the potential deal. The shares were up less than 1% Monday morning in New York to $25.55. McAfee has total debt of about $4 billion, according to data compiled by Bloomberg. Founded by cybersecurity entrepreneur John McAfee in 1987, the company was a pioneer in developing antivirus software for personal computers. McAfee left in 1994, and was found dead in a Spanish prison cell in June this year, hours after Spain's National Court approved his extradition to the U.S. over multiple tax fraud charges.

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