Security specialist McAfee intends to become a listed company again. The firm had disappeared from the stock market after its takeover by Intel in 2010.
In the summer of 2019, the US press was swarming with rumors that McAfee was considering going public with the goal of raising $ 1 billion and reaching a valuation of $ 8 billion. In the meantime, the Covid-19 has gone through this postponing this project.
This “later” has finally arrived. The former subsidiary of Intel, controlled by TPG since 2016, has indeed filed a prospectus with the SEC to be listed on Wall Street under the symbol “MFCE”.
McAfee, who hopes to profit from the infatuation of the stock market for technology stocks, does not give any details about the capital he hopes to raise.
Its document indicates for the fiscal year ended December 28, 2019 a net loss of $ 236 million in 2019, for revenue of $ 2.635 billion, compared to a net loss of $ 512 million for the previous fiscal year.
The current year promises to be much better with, for the first half, a net profit of $ 31 million and a turnover of $ 1.401 billion.
The publisher announces a capitalization of $ 2.773 billion.
McAfee, which has established long-standing partnerships with PC manufacturers (Dell, HP, Lenovo, Asus, and Samsung), and continues to expand its presence with mobile service providers and Internet service providers, claims 600 million consumer terminals protected.
Its business activity would also cover 86% of Fortune 100.78% of Fortune 500 and 61% of Global 2000, 46.6% of turnover would be generated outside the United States. It estimates its addressable market (consumer and business) at $ 30.4 billion (2020), a figure that is expected to grow by 7.9% per year on average to reach $ 41.2 billion in 2024.