McAfee Ireland sees big jump in revenues as profits also rise

The Irish arm of security software company McAfee recorded a big jump in revenues and profits last year, newly filed accounts show.

McAfee Ireland, which is a distributor for both the software giant's consumer and enterprise business, reported turnover of $748 million (€648.4 million) in 2020, versus $673 million a year earlier.

Pretax profits totalled $26.07 million, as against $23.6 million in 2019.

A breakdown of results show the enterprise business of McAfee Ireland Limited contributed revenue of $337.35 million and net profit before tax of $10.1 million.

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Merger

It was announced last month that McAfee's enterprise business is to be merged with FireEye Products to establish a $2 billion business headed by former Blackberry president and Cisco senior vice-president Bryan Palma. The move came shortly after private equity firm Symphony Technology Group (STG) completed deals to acquire McAfee's enterprise business in a $4 billion deal and it picked up FireEye in a $1.2 billion transaction that closed earlier this week.

McAfee Ireland employs close to 400 people locally with staff costs, including wages and salaries, totalling $43.9 million in 2020.