McAfee considering acquisition of Symantec consumer division - reports

Symantec's enterprise division was bought by Broadcom last month

McAfee is pondering making a move for the former consumer business of Symantec, according to reports.

The Wall Street Journal claims that McAfee, which is still partly owned by Intel, is considering merging the unit with its own consumer business, adding that a number of private equity businesses are also in the frame.

Symantec was split in two last month, when Broadcom acquired the enterprise arm and the Symantec name, leaving behind the consumer business which is now known as NortonLifeLock.

The Wall Street Journal said that McAfee is one of "a handful of companies" considering an acquisition, citing people familiar with the matter.

A deal would unite two vendors that were once the dominant antivirus players, but have since seen their positions come under attack by emerging vendors.

Earlier this year McAfee was rumoured to be considering an IPO, but has reportedly changed its mind after seeing the patchy performance from tech companies that have recently floated, The Wall Street Journal added.

NortonLifeLock is currently valued at around $16bn (£12.1bn).

Broadcom was initially rumoured to be plotting a bid for the whole Symantec business, but talks reportedly stalled over differing valuations.

The Wall Street Journal said that any potential deal is not likely to materialise before the first quarter of next year, with 12 of NortonLifeLock's board scheduled to leave after an annual meeting on 19 December.

McAfee was acquired by Intel in 2011, but the business was then acquired by private equity in 2017.

Last year it was rumoured that Thoma Bravo was considering a move for the vendor.