(Reuters) – McAfee Corp mentioned on Monday it would provide its enterprise small business to a consortium led by Symphony Engineering Group for $4 billion in money, sending the cybersecurity firm’s shares up almost 3% in premarket trade.

The deal, subject matter to customary regulatory approvals and closing conditions, is anticipated to shut by the end this calendar year, McAfee claimed.

In the last number of years, McAfee has strengthened its primary cybersecurity program company that focuses on retail prospects via price improves, new partner packages and fantastic retention prices.

Its company business enterprise recorded $1.3 billion in net profits in fiscal 12 months 2020, McAfee claimed.

Goldman Sachs & Co LLC and Morgan Stanley & Co LLC acted as economic advisers to McAfee, though Ropes & Grey LLP served as authorized adviser. UBS Financial investment Bank, Jefferies LLC and BofA Securities acted as money advisers, and Paul Hastings LLP acted as lawful adviser to Symphony.

Reporting by Akanksha Rana in Bengaluru Modifying by Krishna Chandra Eluri and Vinay Dwivedi


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