Martin Abegglen
The total value of the company is thus estimated at $8.6 billion. McAfee shares will start trading on NASDAQ on Thursday under the ticker MCFE.
McAfee, created by programmer John McAfee in the late 1980s is one of the first anti-virus developers. It was already a public company until it was bought by Intel in 2010. In 2016, Intel sold a majority stake in the company to the TPG investment fund; Thoma Bravo investment fund and the Singapore sovereign fund GIC later also acquired a stake, and Intel also continues to hold the stake, too.
McAfee's revenue last year was $2.6 billion, with a net loss of $236 million. The first half of 2020 was more successful for the company - it finished with $1.4 billion in revenue and a net profit of $31 million. The company's debt at the end of June was $4.8 billion, and part of the proceeds from the IPO is going to be spent by McAfee to repay it.
In early October, McAfee founder John McAfee was arrested in Spain at the request of the U.S. authorities, who accuse him of tax evasion, he faces up to 30 years in prison.
source: dowjones.com
McAfee, created by programmer John McAfee in the late 1980s is one of the first anti-virus developers. It was already a public company until it was bought by Intel in 2010. In 2016, Intel sold a majority stake in the company to the TPG investment fund; Thoma Bravo investment fund and the Singapore sovereign fund GIC later also acquired a stake, and Intel also continues to hold the stake, too.
McAfee's revenue last year was $2.6 billion, with a net loss of $236 million. The first half of 2020 was more successful for the company - it finished with $1.4 billion in revenue and a net profit of $31 million. The company's debt at the end of June was $4.8 billion, and part of the proceeds from the IPO is going to be spent by McAfee to repay it.
In early October, McAfee founder John McAfee was arrested in Spain at the request of the U.S. authorities, who accuse him of tax evasion, he faces up to 30 years in prison.
source: dowjones.com
