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Lockdown: Leading cybersecurity brand McAfee files for an estimated $2 billion IPO

September 28, 2020

McAfee, a leading provider of antivirus and endpoint security software, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $2.0 billion.

McAfee is a leading brand in cybersecurity used by consumers, enterprises, and governments. Its consumer-focused products protected over 600 million devices as of June 27, 2020. Its enterprise business protects many of the largest enterprises and governments around the world, including members of the Fortune 100, Fortune 500, and Global 2000 firms.

The San Jose, CA-based company was founded in 1987 and booked $2.7 billion in sales for the 12 months ended June 27, 2020. It plans to list on the Nasdaq under the symbol MCFE. McAfee filed confidentially on August 8, 2019. Morgan Stanley, Goldman Sachs, TPG Capital BD, BofA Securities and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.