McAfee Inc. has hired subscribers to make an initial public offering this year that its owners expect it to value the cybersecurity company at least US $8 billion, according to people familiar with the matter.
McAfee, partly owned by Intel Corp., is working with Morgan Stanley and Bank of America Corp., as well as a full banking union for an IPO, which could take place this fall, said one of the people, who asked not to be identified.
No final decision has been made about an inscription on the stock exchange and the company’s plans could change, people said. Among the company’s owners are private equity firms TPG and Thoma Bravo.
Representatives of McAfee, Intel, Bank of America, Morgan Stanley and TPG declined to comment. A representative of Thoma Bravo did not respond to requests for comment.
An IPO would complete a round trip for the company based in Santa Clara, California, founded by John McAfee in 1989. Intel, which sought to incorporate security features directly into its chips, bought the company for US $7.7 billion in 2010, while TPG and Thoma Bravo subsequently bought shares.
In 2016, John McAfee sued Intel for the right to use his last name in a new trading company. They resolved the case the following year.
This year, cybersecurity companies have been quite successful in the US IPOs.
Crowdstrike Holdings Inc. has increased 150% since it went public in June, while Tufin Software Technologies Ltd. has rebounded approximately 25% since its inclusion in April.
Zscaler Inc., the cloud-based internet security platform that raised US $192 million in its IPO last year, is trading up 344% against its offer price.