LifeLock

LifeLock is an American developer of information security solutions.

2016: Symantec buys LifeLock for $2.3 billion

On November 20, 2016, the antivirus manufacturer software Symantec announced the purchase of LifeLock for $2.3 billion. Thanks to this acquisition, the buyer is going to create "the world's largest digital security platform for consumers and families."

Symantec is buying LifeLock to create "the world's largest digital security platform for consumers and families."

Under the terms of the agreement, Symantec will pay $24 for each LifeLock share, which is 16% more than the exchange's closing rate on November 18, 2017. It is planned to perform all formalities regarding the announced transaction in the first calendar quarter of 2017. The deal was approved by the boards of directors of both companies. Regulators and shareholders should make their decisions.

In addition to Symantec, LifeLock was claimed by private equity funds Permira, TPG and Evergreen Coast Capital, which had been in talks with the company for months, according to Bloomberg news agency.

LifeLock products, primarily aimed at consumers and small companies, are able to track fraudulent activity, prevent attacks, eliminate their consequences and predict the actions of criminals using predictive analytics. By November 2016, the LifeLock database was replenished with more than 50 million unstructured data objects from various sources, and the number of users of the company's solutions exceeded 4.4 million.

By combining Norton [Symantec's more popular family of information security products - note TAdviser] and LifeLock, we can offer comprehensive cyber protection for consumers, says Symantec CEO Greg Clark. - This acquisition marks a transformation in the consumer information security market, ranging from anti-malware protection to a broader category of digital security for users.

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