(Reuters) – McAfee Corp said on Monday it would sell its enterprise business to a consortium led by Symphony Technology Group for $4 billion in cash, sending the cybersecurity firm’s shares up nearly 3% in premarket trade.
The deal, subject to customary regulatory approvals and closing conditions, is expected to close by the end this year, McAfee said.
Goldman Sachs & Co LLC and Morgan Stanley & Co LLC acted as financial advisers to McAfee, while Ropes & Gray LLP served as legal adviser. UBS Investment Bank, Jefferies LLC and BofA Securities acted as financial advisers, and Paul Hastings LLP acted as legal adviser to Symphony.
(Reporting by Akanksha Rana in Bengaluru; Editing by Krishna Chandra Eluri and Vinay Dwivedi)