Mcafee Technology Group 4bsawersventurebeat: For the third time in company history, and for the second time in as many years, McAfee has sold its enterprise cybersecurity business, this time to private equity firm Thoma Bravo for $4 billion. The move is intended to help the company pivot from a traditional antivirus provider into an integrated security provider that spans across endpoint security management and cloud-based cybersecurity. The sale of McAfee’s enterprise business has been delayed by two years due to regulatory concerns. The McAfee sale is intended to close in the second quarter of this year.
McAfee announced plans to sell its enterprise cybersecurity business in November 2016 as part of a strategy that seeks to “create a focused, trusted technology leader” for cyber security and data protection.
The move is intended to help the company pivot from a traditional antivirus provider into an integrated security provider that spans across endpoint security management and cloud-based cybersecurity. The sale of McAfee’s enterprise business has been delayed by two years due to regulatory concerns. The McAfee sale is intended to close in the second quarter of this year.
In December 2016, McAfee announced plans to sell its enterprise cybersecurity business in a deal valued at $4.0 billion. The transaction was expected to be completed by June 30, 2017. The vendor said it expects completion of the deal with Thoma Bravo Partners LP and Thoma Bravo Corp., which holds 25% and 5%, respectively, of the voting rights in the company, “in the second half of 2017.”
In May 2017, it was reported that McAfee is considering selling its enterprise cybersecurity business in a deal valued at $2 billion. The vendor expects to receive $1 billion in cash and up to $200 million in additional repayment of debt from Thoma Bravo Partners LP, and up to $150 million in additional repayment of debt from Thoma Bravo Corp. The transaction is expected to close mid-2017. It is not known which entity will buy the enterprise cybersecurity business.
McAfee said it expects to receive $1 billion in cash and up to $200 million in additional repayment of debt from Thoma Bravo Partners LP, and up to $150 million in additional repayment of debt from Thoma Bravo Corp. The vendor expects the transaction to close mid-2017.
On November 29, 2017, McAfee announced that it had agreed to sell its enterprise cybersecurity business to private equity firm Thoma Bravo for $4 billion.