McAfee, a cyber security company, plans to seek a $8 billion valuation for its IPO this year

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[Summary] The final decision on whether to go public has not yet been made, and McAfee’s plan may change, according to people familiar with the matter. The company’s owners include TPG and Thoma Bravo, private equity firms.
Tencent Technologies News, August 28, according to foreign media reports, people familiar with the matter disclosed that McAfee, a network security company, has hired underwriters to seek an initial public offering (IPO) this year, and its owners hope to value at least $8 billion.
One person familiar with the matter said that McAfee, which is partly owned by Intel, is working with Morgan Stanley and Bank of America, as well as a full bank consortium, to launch an IPO this autumn.
People familiar with the matter said that the final decision on whether to go public has not yet been made and the company’s plans may change. The company’s owners include TPG and Thoma Bravo, private equity firms.
Representatives of McAfee, Intel, Bank of America, Morgan Stanley and TPG declined to comment. A representative of Thoma Bravo did not respond to requests for comment.
McAfee was founded in 1989 by John McAfee, headquartered in Santa Clara, California. Intel sought to build security features directly into its chips. It acquired a stake in the company for $7.7 billion in 2010, followed by TPG and Thoma Bravo.
In 2016, McAfee sued Intel for the right to use his name in a new business project. The next year they settled the case.
This year, cyber security companies performed well in American IPOs. Crowd Strike Holdings shares have risen by about 150% since its June listing, while Tufin Software Technologies has risen by about 25% since its April listing.
Zscaler, a cloud-based Internet security platform, raised $192 million when it launched its IPO last year, and its share price is now 344% higher than its offering price. (Tencent Technology Revision/Jinlu)