{"id":518403,"date":"2021-07-27T16:08:25","date_gmt":"2021-07-27T20:08:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mcafee-completes-the-divestiture-of-its-enterprise-business-to-symphony-technology-group-stg\/"},"modified":"2021-07-27T16:08:25","modified_gmt":"2021-07-27T20:08:25","slug":"mcafee-completes-the-divestiture-of-its-enterprise-business-to-symphony-technology-group-stg","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mcafee-completes-the-divestiture-of-its-enterprise-business-to-symphony-technology-group-stg\/","title":{"rendered":"McAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG)"},"content":{"rendered":"

<\/p>\n

McAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG) <\/b><\/p>\n

SAN JOSE, Calif.–(BUSINESS WIRE<\/a>)–
\nMcAfee Corp. (Nasdaq: MCFE), a global leader in online protection, announced today the completion of the previously announced transaction to sell certain assets and the assumption of certain liabilities of McAfee\u2019s Enterprise business to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $4.0 billion.\n<\/p>\n

\nThe divestiture of the Enterprise business reflects McAfee’s commitment to singularly focus on the consumer business and to further accelerate its strategy as a leader in online protection as a pure-play consumer cybersecurity company.\n<\/p>\n

\nAs previously announced, McAfee expects to use a portion of the proceeds from the transaction to repay approximately $1 billion of existing indebtedness, and also pay a one-time special cash dividend of $4.50 per share of McAfee Corp.\u2019s Class A common stock. McAfee will discuss the transaction\u2019s impact in greater detail when it releases its second quarter results on August 10.\n<\/p>\n

\nGoldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as financial advisors, and Ropes & Gray LLP and Baker McKenzie LLP are acting as legal advisors, to McAfee.\n<\/p>\n

\nUBS Investment Bank, Jefferies LLC and BofA Securities are acting as financial advisors, and Paul Hastings LLP is acting as legal advisor, to STG. UBS Investment Bank, Jefferies Finance LLC and Bank of America are providing financing for the acquisition.\n<\/p>\n

About McAfee<\/b><\/p>\n

\nMcAfee is a global leader in online protection. www.mcafee.com<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210727005937\/en\/<\/a><\/span><\/p>\n

Investors:
\n<\/b>
Eduardo Fleites
\n
investor@mcafee.com<\/a><\/p>\n

\nMedia:
\n
media@mcafee.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Entertainment Security Mobile Entertainment Software Family Internet Hardware Consumer Electronics<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

McAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG) SAN JOSE, Calif.–(BUSINESS WIRE)– McAfee Corp. (Nasdaq: MCFE), a global leader in online protection, announced today the completion of the previously announced transaction to sell certain assets and the assumption of certain liabilities of McAfee\u2019s Enterprise business to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $4.0 billion. The divestiture of the Enterprise business reflects McAfee’s commitment to singularly focus on the consumer business and to further accelerate its strategy as a leader in online protection as a pure-play consumer cybersecurity company. As previously announced, McAfee expects to use a portion of the proceeds from the transaction to repay approximately $1 billion … <\/p>\n

Continue reading “McAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-518403","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMcAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mcafee-completes-the-divestiture-of-its-enterprise-business-to-symphony-technology-group-stg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"McAfee Completes the Divestiture of Its Enterprise Business to Symphony Technology Group (STG) SAN JOSE, Calif.–(BUSINESS WIRE)– McAfee Corp. (Nasdaq: MCFE), a global leader in online protection, announced today the completion of the previously announced transaction to sell certain assets and the assumption of certain liabilities of McAfee\u2019s Enterprise business to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $4.0 billion. The divestiture of the Enterprise business reflects McAfee’s commitment to singularly focus on the consumer business and to further accelerate its strategy as a leader in online protection as a pure-play consumer cybersecurity company. 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