McAfee sold the foundation business for $ 4 billion
McAfee sold the foundation business for $ 4 billion

Cybersecurity firm McAfee announced Monday that it will sell its enterprise-facing business to a consortium led by Symphony Technology Group at a deal price of $ 4 billion.

The deal is expected to close before the end of 2021, subject to regulatory approval and terms of the deal.

In recent years, McAfee has strengthened its core business of network security software for private clients through price increases, new partner programs, and good customer retention rates.

McAfee's business-based business has set the standards in the cybersecurity industry with more than 30 years of history and has become a recognized leader in device and cloud cybersecurity solutions.

It is a trusted partner of 86% of the largest companies in the world and generated a net income of $ 1.3 billion in the 2020 fiscal year.

(Peter Leve) said Peter Leve, President and CEO of McAfee: “Symphony Technology Group is the ideal partner to further enhance the company's business. This result is evidence of innovative business solutions, especially exceptional solutions. The contribution of our employees. ''

“With this transaction, McAfee will be able to focus on our consumer business and accelerate our strategy to become a leader in customer personal safety.

(William Chisholm) William Chisholm, Managing Partner of Symphony Technology Group, said, “McAfee is one of the most popular enterprise security brands with a reputation for innovation, quality and leadership.

He added, "We are determined to work with the current McAfee global team to continue the company's strategy to become a leader in network security and to continue to provide exceptional service to global companies and governments."

McAfee will continue to operate and operate the company until the transaction is completed. McAfee and Symphony Technology Group are involved in planning a successful transition for the company, its employees, and its customers.

McAfee maintains its name and remains focused on providing pioneering personal security solutions to protect consumers. The company's business has been renamed and is expected to be completed in the coming months.

Previous Post Next Post