Online security provider McAfee is the latest technology company to file for a U.S. initial public offering.
The company, carved out of chip giant Intel four years ago following an earlier acquisition, is filing amid a busy period for public market debuts, with at least two multibillion-dollar direct offerings on tap for this week. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
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Its IPO filing shows a pattern of growth, with revenue jumping 9.4 percent to $2.64 billion in the year ended in December 2019, while net loss narrowed to $236 million from $512 million during the same period.
The private equity firm TPG acquired a majority stake in McAfee from Intel in 2016 in a deal which valued the company at $4.2 billion, including debt.
Illustration: Dom Guzman