Security News > 2020 > October > McAfee rattles tin for $600m+ in fresh IPO filing valuing firm at $3.6bn

McAfee - the antivirus vendor, not the totally sane and level-headed man who founded it - is reportedly looking to raise more than $600m in its upcoming IPO. The news comes some weeks after McAfee made a placeholder valuation of $100m in its IPO filing, with investment speculators reckoning the final sum might top $2bn. The business will offer around 31 million shares to the market at $19-$22 apiece, according to the S-1.

In the first six months of to 27 June 2020, McAfee claimed a net profit of $31m; last fiscal year it reported revenues of $2.6bn - and a net loss of $236m.

Four years ago Intel sold its majority stake in McAfee to private equity firm TPG. McAfee's PC antivirus product has long enjoyed a less than stellar reputation among power users, not least thanks to the 2018 update shenanigans that caused it to crash computers running McAfee Endpoint Security.

Perhaps the IPO will uncover some financial or technical McAfee wizardry that has hitherto been hidden over the past decade.

John McAfee, the founder of the firm who sold up and exited it in the 1990s, was arrested last week on charges of tax evasion and breaches of US securities laws.

News URL

https://go.theregister.com/feed/www.theregister.com/2020/10/14/mcafee_ipo_reports/