On September 28, McAfee, a network security company, applied for an initial public offering in the United States, seeking to list on the Nasdaq.
According to a Reuters report that day, McAfee has not disclosed the scale of the issuance, but has set a placeholder of US$100 million.
In 2011, McAfee became an Intel (Intel) wholly-owned subsidiary and became part of the Intel Security business. The transaction size of the McAfee takeover by Intel at the time was US$ 7.7 billion. Intel claims that security is becoming more and more important to users of computers, and incorporating security features into their processors would be of benefit. This technique, however, eventually failed. McAfee’s most efficient tech firm has never been turned into realistic products that can improve the main sector of Intel.
In 2016, for US$ 1.1 billion and re-independent McAfee, TPG, a well-known private equity investment firm, bought a 51 percent interest in McAfee. The deal priced McAfee at 4.2 billion US dollars. Debt is used in this value.
Credit rating firm Moody’s Investors Service said that McAfee has focused on the core cybersecurity tech sector of consumers over the past few years, which has expanded through price increases , new partner initiatives and strong retention of customers.
Moody’s has said that while the growth of the network security sector is partly offset by other poor firms, the industry remains competitive.
McAfee’s sales rose 9.4 percent to 2,64 billion US$ in the fiscal year ended in December 2019, with net losses decreased from 512 million US$ to 236 million US$ in the same year.
2020 is the year in which digital firms meet to be known. The cloud computing firm Snowflake previously pursued an IPO on 15 September, becoming the largest tech business in American history. It lifted US dollars of 3.86 billion, including the green shoe portfolio. Overloading, that is.
Bloomberg figures claim tech firms make up $12.8 billion of the combined US$102 billion generated by the American Stock Exchange in 2020 and that the weighted average growth in tech companies’ wealth since listing grew by 78 per cent, according to Bloomberg.