Following an announcement from the Wall Street Journal in Friday after-hours trading, McAfee stock (NASDAQ: MCFE) soared over 20% with the news that the security software company will be acquired by a private investor group.
The group in question is led by Advent Capital, Permira Advisers LLC, Crosspoint Capital, Canada Pension Plan Investment Board, and GIC Private, as well as a subsidiary of the Abu Dhabi Investment Authority – the deal is valued at a total of $14B with an equity value of around $12B.
McAfee already has a prominent track record – showing 59% growth over 2021. McAfee’s firm foundations in such a readily expanding market made the company a direct target for institutional investors; allowing the company to prosper in the limelight of consistent professional oversight and future direction.
The group will acquire McAfee shares for $26 each, illustrating a premium of just over 2.5% from the previous closing price, sparking the 20% stock rise that we saw in Friday’s after-hours.
With McAfee showing clear revenue gains in the latest Q3 report, and a consistently diverse product portfolio, it didn’t take long for private investors to come knocking on the door.
McAfee President and CEO, Peter Leav, exclaims his gratitude:
“This transaction is a testament to McAfee’s market-leading online protection solutions, our talented employees, and outstanding customers and partners,”
Adding…
“We want to thank our employees for their continued hard work and commitment to McAfee. We are thrilled to be partnering with premier firms who truly understand the cybersecurity landscape and have a proven track record of success.”
Following a spur of profit-taking, McAfee stock slipped in today’s premarket trading with a retracement of 4.5%. However, buyers have returned as the market open approaches with most of the premarket losses dissipating. MCFE is trading at 25.44 premarket, feeling the pressure of the 25.50 resistance zone.
Innovative solutions are the crux of McAfee’s successful portfolio. With this new breath of investment, the company will continue to expand into thriving areas of digital security. Showing consistent growth over the year, McAfee could certainly be a stock worth watching.
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