July 10, 2019 / 6:57 PM / 3 months ago

UPDATE 1-McAfee plans return to public markets - WSJ

(Adds McAfee statement, background)

July 10 (Reuters) - Cybersecurity software firm McAfee Llc is planning a return to the public markets, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

An IPO could raise at least $1 billion and value McAfee at more than $5 billion, according to the report. (on.wsj.com/2Sdpb2Y)

Intel Corp, which paid $7.7 billion for California-based McAfee in 2011, spun off 51% to private equity fund TPG Capital in 2017 at a $4.2 billion enterprise value. Thoma Bravo also joined as an investor in the same year.

McAfee declined to comment on the report, saying it "does not comment on rumors". (Reporting by Sayanti Chakraborty in Bengaluru; Editing by Shounak Dasgupta)

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