Symantec has announced that it is acquiring Lifelock in a deal which is worth $2.3 billion, the company will pay $24 per share for Li8felock.
The deal has been approved by the board of directors of both companies and they are expecting to close finalize things in the first quarter of 2017.
As we all know, consumer cybercrime has reached crisis levels. LifeLock is a leading provider of identity and fraud protection services, with over 4.4 million highly-satisfied members and growing. With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defense for consumers,” said Greg Clark, Symantec’s CEO. “This acquisition marks the transformation of the consumer security industry from malware protection to the broader category of Digital Safety for consumers.”
Symantec’s acquisition of LifeLock brings together the #1 leader in consumer security with a leading provider of identity protection and remediation services. The combination will create the world’s largest consumer security business with over $2.3 billion in annual revenue based on last fiscal year revenues for both companies.
You can find out more information about the deal between Symantec and Lifelock at the link below.