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.