Computer security company McAfee is preparing for a new IPO. The company submitted documents for a listing on the US Nasdaq Stock Exchange. It adds to the ranks of companies that have recently made the leap to the stock markets.
McAfee, based in San Jose, California, is offering $ 100 million in shares, as can be seen from the prospectus. But it’s possible that size is still changing.
McAfee was founded in 1987 by John McAfee. Previously, the company focused on security software for PCs and servers. In recent years it has also focused on the cloud, helped by the necessary takeovers.
In 2011, McAfee bought the company for nearly $ 8 billion, and withdrew it from the stock exchange. In 2016 a majority stake was sold to the private investor TPG. Investor Thomas Bravo also has an interest in the company at the moment.
McAfee made a profit of USD 31 million on a turnover of USD 1.4 billion until the end of June. In the similar period a year earlier, this was a loss of USD 146 million on almost USD 1.3 billion in revenue.