Cybersecurity agency McAfee is nearing a deal to promote itself to US non-public fairness agency Advent International for greater than $10 billion (roughly Rs. 74,200 crores), the Wall Street Journal reported on Friday, citing folks aware of the matter.

The deal could possibly be introduced on Monday, though the talks might nonetheless crumble, the report said.

McAfee and Advent didn’t instantly reply to Reuters requests for remark.

The potential deal comes at a time when the pandemic-driven shift to distant working and an increase in cyber assaults has spurred demand for antivirus and digital safety software program.

Seeking to create a frontrunner in shopper safety software program, US-based NortonLifeLock in August agreed to purchase London-listed rival Avast for as much as $8.6 billion (roughly Rs. 63,800 crores).

Shares of McAfee, which made its market debut final 12 months, closed 20 p.c larger on Friday at $25.46 (roughly Rs. 1,900).

The firm stated in March it will promote its enterprise enterprise to a consortium led by Symphony Technology for $4 billion (roughly Rs. 29,700 crores) in money.

© Thomson Reuters 2021