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McAfee Makes A Comeback With IPO

Cybersecurity maker, McAfee, is gearing its comeback as a public company, following a filing to the SEC earlier this week.

According to Marketwatch, the company is registered to raise up to US$100 million, however, the placeholder figure is set to be updated later.

Disclosed within the filing, the security software vendor generated US$2.64 billion in revenue last year, with a loss of US$236 million.

The first twenty six weeks of this year has notched net income of US$31 million, following reported revenue of US$1.4 billion.

It comes after Intel sold its majority stake in McAfee to TPG for US$4.2 billion in 2016. A year later Bravo inked a deal with TPG to snare a minority stake.

The latest prospectus lists TPG and Thoma Bravo as its backers.

The news follows a boom in software IPOs this year as the coronavirus pandemic fuels tech stocks.

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