McAfee to sell enterprise security business for $4 bn

Cybersecurity firm McAfee Corp has agreed to sell its enterprise business to a consortium led by Symphony Technology Group for $4 billion in cash.
McAfee security solutions
The deal, subject to customary regulatory approvals and closing conditions, is expected to close by the end this year, McAfee said.

In the last few years, McAfee has strengthened its main cybersecurity software business that focuses on retail customers via price increases, new partner programs and good retention rates.

Its enterprise business recorded $1.3 billion in net revenue in fiscal year 2020, McAfee said.