Symantec Corporation to Acquire LifeLock, Inc.
Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security company announced it plans on expanding their cyber defensive services to protect against identity and fraud theft in the future. Today, Symantec announced they have entered into a definitive agreement with LifeLock, Inc. (NYSE: LOCK) – a leading provider of proactive identity theft protection services for consumers. In a statement by Symantec’s CEO Greg Clark, “…With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defense for consumers”. Symantec acquisition of LifeLock will create the largest consumer security company in the world – valued over $2.3 billion in enterprise value. The financing of the transaction is expected to come from a combination of cash on Symantec’s balance sheet and $750 million of new debt. The transaction is expected to close in the first quarter of 2017.
Read the full press release at https://www.symantec.com
Below are highlights of additonal Merger and Acquisition activity from the last week:
Application Software M&A News: Sky-Mobi Announces Completion of Merger.
Read more at http://en.sky-mobi.com
Industrial Machinery M&A News: SMA and Blount Enter into Definitive Agreement to Acquire TISCO.
Read more at http://www.blount.com/default.asp
Systems Software M&A News: Sidetrade Acquires Artificial Intelligence Start-up BrightTarget.
Read more at http://uk.sidetrade.com
