Status: Clearance

Acquirer: Advent International Corporation (United States)

Acquired: McAfee Corporation

Value: $14 Billion

Industry Tags: Cybersecurity; Software

On November 8, 2021, McAfee Corp., a publicly traded (NASDAQ:MCFE) “a global leader in online protection,” announced that it “entered into a definitive agreement to be acquired by an investor group led by Advent International Corporation (‘Advent’) and Permira Advisers LLC (‘Permira’), Crosspoint Capital Partners (‘Crosspoint Capital’), Canada Pension Plan Investment Board (‘CPP Investments’), GIC Private Limited (‘GIC’), and a wholly owned subsidiary of the Abu Dhabi Investment Authority (‘ADIA’) (collectively, ‘the Investor Group’).”  (Press Release, McAfee Corp. Form 8-K, Ex-99.3, Nov. 5, 2021, SEC Filing.)  Under the terms of the agreement, CFIUS approval was a condition to closing.  (Agreement and Plan of Merger, Section 9.01(e), McAfee Corp. Form 8-K, Ex-2.1, Nov. 8, 2021, SEC Filing.)  On February 22, 2022, the parties “received written notice from [CFIUS] that it had concluded action . . . and determined there are no unresolved national security concerns” related to the proposed transaction. (McAfee Corp. Form 8-K, Feb. 23, 2022, SEC Filing.) The transaction was completed on March 1, 2022. (McAfee Corp. Form 8-K, Mar. 1, 2022, SEC Filing.)

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