McAfee Nears Deal to Sell Itself to Advent for Over $10 Billion

Cybersecurity firm McAfee will be sold to US private equity firm Advent International for $10 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The deal could be announced on Monday, although negotiations may still fail, the report said.

McAfee and Advent did not immediately respond to requests for comment.

The potential deal comes at a time when the epidemic has shifted operations to remote operations and cyberattacks are increasing, resulting in increased demand for antivirus and digital security software.

To build on the leader in consumer software, US-based NortonLifelock agreed in August to buy its London-based rival, Avast, for $8.6 billion.

Shares of McAfee, which launched last year, rose 20% to $25.46 (around Rs 1,900) on Friday.

The company announced in March that it would sell its corporate banking business to a consortium led by Symphony Technology for $4 billion in cash.