McAfee to be bought by Advent-led group in $14 billion deal

Nov 8 (Reuters) - McAfee Corp said on Monday that a consortium led by U.S. private equity firm Advent International will buy the Cyber security firm in a $14 billion deal.

As part of the deal, the investor group will acquire all outstanding shares of McAfee common stock for $26 per share in an all-cash transaction. The deal values the company at about $12 billion on an equity basis.

The purchase price represents a premium of 22.6% over McAfee's closing share price of $21.21 on Nov. 4, the last trading day before the Wall Street Journal reported about the deal talks.

The deal comes as a pandemic-driven shift to remote working and a rise in cyber attacks have spurred demand for antivirus and digital security software.