IPO Watch: McAfee LLC

Article Excerpt

MCAFEE LLC makes cybersecurity software that protects mobile devices and the cloud-based networks from online intruders. In 2016, Intel Corp. (Nasdaq symbol INTC) sold 51% of McAfee to private equity firm TPG Capital. Private equity firm Thoma Bravo later acquired a minority stake. Those investors now plan to take McAfee public though an initial public offering, which would likely value the company at $8 billion. McAfee’s owners aim to take advantage of strong investor interest in cybersecurity stocks. For example, Zscaler Inc. (Nasdaq symbol ZS) has jumped 225% since its IPO in March 2018. We’ll keep an eye on the progress of any McAfee IPO and continue to update our advice. Meanwhile, Intel is a buy. buy…