STG-led Consortium’s $4 Billion Acquisition of McAfee’s Enterprise Business

Ropes & Gray LLP and Paul Hastings LLP advised on the deal.

McAfee Corp. (Nasdaq: MCFE), the device-to-cloud cybersecurity company, entered into a definitive agreement to sell its Enterprise business to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $4.0 billion. The transaction is expected to close by the end of 2021, subject to customary regulatory approvals and closing conditions. 

McAfee is a device to-cloud cybersecurity company that has set the pace and standard within the cybersecurity industry for more than 30 years.

Symphony Technology Group (STG) is the private equity partner to market leading companies in data, software, and analytics. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. 

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC acted as financial advisors to McAfee. UBS Investment Bank, Jefferies LLC and BofA Securities acted as financial advisors to STG. UBS Investment Bank, Jefferies Finance LLC and Bank of America provided financing for the acquisition.

The Ropes & Gray team that represented McAfee was led by private equity partners Mike Roh (Boston; Picture) and Howard Glazer (San Francisco), mergers & acquisitions partner Paul Scrivano (San Francisco and New York), private equity partner Scott Abramowitz (New York) and IP transactions partner Megan Baca (Silicon Valley), and included private equity counsel Anthony Bernard (Boston), litigation & enforcement partners Jonathan Klarfeld, Ama Adams and Maria Calvet (all of Washington D.C.), Daniel McCaughey, Randall Bodner and Peter Welsh (all of Boston), Timothy Farrell (Chicago) and Ruchit Patel (London), mergers & acquisitions partner Edward Black (Boston), employment, executive compensation & benefits partner Megan Bisk (Boston), senior counsel Alfred Rose (Boston), debt finance partners Arek Maczka and Jay Kim (both of New York), private equity partners Jay Freedman and Thomas Holden (both of San Francisco), tax partners Adam Greenwood (New York) and Andrew Howard (London), and data, privacy & cybersecurity partner Edward McNicholas (Washington D.C.).

Involved fees earner: Scott Abramowitz – Ropes & Gray; Ama Adams – Ropes & Gray; Megan Baca – Ropes & Gray; Anthony Bernard – Ropes & Gray; Megan Bisk – Ropes & Gray; Edward Black – Ropes & Gray; Randall Bodner – Ropes & Gray; Timothy Farrell – Ropes & Gray; Jason Freedman – Ropes & Gray; Howard Glazer – Ropes & Gray; María González Calvet – Ropes & Gray; Adam Greenwood – Ropes & Gray; Thomas Holden – Ropes & Gray; Andrew Howard – Ropes & Gray; Jay Kim – Ropes & Gray; Jonathan Klarfeld – Ropes & Gray; Arek Maczka – Ropes & Gray; Daniel McCaughey – Ropes & Gray; Edward McNicholas – Ropes & Gray; Ruchit Patel – Ropes & Gray; Michael Roh – Ropes & Gray; Alfred Rose – Ropes & Gray; Paul Scrivano – Ropes & Gray; Peter Welsh – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: McAfee;

Author: Martina Bellini