Symantec Acquisition Lifelock For $ 2.3 Billion
Symantec announced an agreement to acquire security software maker, Lifelock valued at $ 2.3 billion.
Purchase Lifelock will use Symantec's financial budget, coupled with a loan of 750 million USD.
Lifelock itself was a provider of digital security platform in the world's largets consumer market. Lifelock applications available on Android and iOS mobile devices, useful to protect personally identifiable data. Its currently estimated at more than 4 million people in the world.
The deal approved by the board of directors of both companies, is expected to be completed in the first quarter of 2017. While waiting for the other agreeements, such as the approval of the Lifelock's shareholders.
Lifelock acquisition by Symantec is expected to strengthen its security services, in the line with the growing sophistication of cyber crime.
"Lifelock as a service provider of identity protection and fraud, has 4.4 million customers and growing, combined with Norton, then the consumer can get a complete cyber defense." said Symantec CEO, Greg Clark.
Clark added that the acquisition also marks the transformation of the consumer security industry from malware protection to a broader category, namely Digital Safety.
If combined together, the total revenue of the two companies at the end of the last fiscal year reached $ 2.3 billion. Symantec confident out there is still the potential of 80 million people that haven't worked, however be aware of cyber security threats.
Lifelock became a public company in October 2012 ago. Its share price rose 40 percent within one year, its capital market is expected to reach $ 1.95 billion.
Lifelock, based in Tempe, Arizona, United States, had 855 employees as of the end of October 2016, In addition, Lifelock also has offices in San Diego, San Francisco and Mountain View, California.
Purchase Lifelock will use Symantec's financial budget, coupled with a loan of 750 million USD.
Lifelock itself was a provider of digital security platform in the world's largets consumer market. Lifelock applications available on Android and iOS mobile devices, useful to protect personally identifiable data. Its currently estimated at more than 4 million people in the world.
The deal approved by the board of directors of both companies, is expected to be completed in the first quarter of 2017. While waiting for the other agreeements, such as the approval of the Lifelock's shareholders.
Lifelock acquisition by Symantec is expected to strengthen its security services, in the line with the growing sophistication of cyber crime.
"Lifelock as a service provider of identity protection and fraud, has 4.4 million customers and growing, combined with Norton, then the consumer can get a complete cyber defense." said Symantec CEO, Greg Clark.
Clark added that the acquisition also marks the transformation of the consumer security industry from malware protection to a broader category, namely Digital Safety.
If combined together, the total revenue of the two companies at the end of the last fiscal year reached $ 2.3 billion. Symantec confident out there is still the potential of 80 million people that haven't worked, however be aware of cyber security threats.
Lifelock became a public company in October 2012 ago. Its share price rose 40 percent within one year, its capital market is expected to reach $ 1.95 billion.
Lifelock, based in Tempe, Arizona, United States, had 855 employees as of the end of October 2016, In addition, Lifelock also has offices in San Diego, San Francisco and Mountain View, California.
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