Bengaluru, NFAPost: McAfee plans to continue to expand the portfolio of solutions it offers through investment in new product and platform innovations. It has an advantage from having both consumer and enterprise businesses.
McAfee priced its initial public offering late Wednesday at $20 a share and raised $740 million from the sale of 37 million shares. But the stock opened Thursday morning below $19, a 6% drop. It finished the day down 6.5%.
McAfee is trading under the ticker symbol “MCFE.” The company filed plans for its IPO last month.
“While its closing price ended up below its opening target, the company still raised in excess of $700 million,” Parizo said.
“McAfee’s primary investors – TPG Capital, Intel and Thoma Bravo – had been growing increasingly impatient with the vendor’s multiyear transformation effort. Though the opening may not have exceeded expectations, they have to be pleased with the performance of the debut,” said Parizo.
With all of the challenges McAfee has faced, the fact that it made it to an IPO should be considered a “huge victory” for the company, its employees and its investors, he said.
Lynne Doherty is McAfee’s executive vice president of global sales and marketing. She said partners have a lot to look forward to from McAfee going public.
McAfee Executive Vice President of Global Sales and Marketing Lynne Doherty said ss a publicly-traded company, McAfee plans to continue to expand the portfolio of solutions it offers through investment in new product and platform innovations.
“This commitment to invest in our business to strengthen our global reach and scale will only benefit McAfee partners,” said McAfee Executive Vice President of Global Sales and Marketing Lynne Doherty.
Partners will play a “crucial role” in offering new solutions to McAfee’s large customers, Doherty said. They drive adoption of McAfee’s next-generation solutions and deliver McAfee’s mission to “keep the world safe from cyberthreats.”
McAfee Executive Vice President of Global Sales and Marketing Lynne Doherty said the partners help McAfee to scale further, provide a premium experience to customers, and ensure that customers keep their business outcomes in mind when building solutions with it.
