Please try another search
© Reuters.
(Reuters) - Cyber security firm McAfee Corp filed for a U.S. initial public offering on Monday, as the company carved out of Intel Corp (O:INTC) four years ago looks to take advantage of a rebound in capital markets from a coronavirus-led slump in March.
McAfee did not disclose the size of the offering and set a placeholder amount of $100 million. (https://
The firm is looking to list its shares on the Nasdaq under the ticker symbol "MCFE", according to a filing https://
The filing comes at the start of a blockbuster week for IPOs with the likes of Central Intelligence Agency-backed Palantir Technologies and workplace app Asana Inc set for their market debuts.
Buyout firm TPG had acquired a majority stake in McAfee from Intel in 2016 in a deal which valued the company at $4.2 billion, including debt.
McAfee has managed to grow its main cyber security software business, which focuses on consumers, through price increases, new partner programs and good retention rates in the last few years, according credit ratings agency Moody's (NYSE:MCO) Investors Service Inc.
The growth has been partially offset, however, by weakness in its business of serving other companies, which remains competitive, according to Moody's.
McAfee's revenue jumped 9.4% to $2.64 billion in the year ended Dec. 2019, while net loss narrowed to $236 million from $512 million during the same period.
The company hired the former CEO of BMC Software, Peter Leav, as its new chief executive, Reuters reported in January.
Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), TPG Capital BD, BofA Securities and Citigroup (NYSE:C) are the lead underwriters to the offering.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.