Symantec To Buy LifeLock At $2.3 BillionSymantec To Buy LifeLock At $2.3 Billion
Deal set to be finalized by Q1 2017 and financed by cash and $750 million of new debt.
November 23, 2016
Symantec has announced plans to buy identity protection provider LifeLock in a deal that is expected to give a boost to the company’s cybersecurity business, TheStreet reports.
The deal is confirmed at $2.3 billion and LifeLock shareholders will get $24 per share or a 16% premium to its closing price on Friday of $20.75. It will be financed by cash and $750 million of new debt and finalized in the first quarter of next year, says TheStreet.
"With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defense for consumers," said Symantec CEO Greg Clark, adding "this acquisition marks the transformation of the consumer security industry from malware protection to the broader category of Digital Safety for consumers."
This deal is also seen as a victory for activist investor Paul Singer of hedge fund Elliott Management Corp. who had in June pushed LifeLock to boost shareholder value.
Read more details here.
About the Author(s)
Tricks to Boost Your Threat Hunting GameNov 06, 2023
Hacking Your Digital Identity: How Cybercriminals Can and Will Get Around Your Authentication MethodsOct 26, 2023
Modern Supply Chain Security: Integrated, Interconnected, and Context-DrivenNov 06, 2023
How to Combat the Latest Cloud Security ThreatsNov 06, 2023
Reducing Cyber Risk in Enterprise Email Systems: It's Not Just Spam and PhishingNov 01, 2023
9 Traits You Need to Succeed as a Cybersecurity Leader
The Ultimate Guide to the CISSP
Protecting Critical Infrastructure: The 2021 Energy, Utilities, and Industrials Cyber Threat Landscape Report
2021 Banking and Financial Services Industry Cyber Threat Landscape Report
5 Reasons To Move your PKI Deployment to the Cloud