Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 24.02.2022  
C(2022 ) 1294 final  
PUBLIC VERSION  
Permira Holdings Limited  
320 Park Avenue, 28th Floor  
New York NY 10022  
United States of America  
 
Advent International Corporation  
Prudential Tower, 800 Boylston Street, 
Suite  3300   
MA 02199 - Boston  
United States of America  
Subject : Case M.10570 - ADVENT / PERMIRA / MCAFEE   
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear  Sir or Madam,  
1. On 31 January 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Advent 
International Corporation (“Advent”, US) and Permira Holdings Limited (“Permira”, 
UK),  acquire within the meaning of Article 3(1)(b)  and 3(4)  of the Merger Regulation 
joint control over the whole of McAfee Corp. (“McAfee”, US) by way of purchase of 
shares .3 
2. The business activities of the undertakings concerned are:  
 for Advent: acquisition of equity stakes and management of investment funds in 
various sectors, including healthcare, industrial, technology, retail, consumer and 
leisure, and business and financial services , 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Communi ty’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 66, 08.02.2022 , p. 63. 

2  for Permira: provision of investment management services to  a number of 
investment funds. Permira controls a number of portfolio companies which are 
active in a variety of sectors across a range of jurisdictions , 
 for McAfee : provision of advanced security solutions to consumers. McAfee is 
active in the design and development of security products and services focused in 
particular on ensuring that internet connected devices are protected from 
malicious content.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation f alls within the scope of the Merger  Regulation  and of 
paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplifie d procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .