Symantec to buy LifeLock for $2.3 billion to add ID protection

Symantec to buy LifeLock for $2.3 billion to add ID protection

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Symantec to buy LifeLock for $2.3 billion to add ID protection 10 6 99
(Bloomberg) — Symantec Corp., one of the world's most essential cybersecurity affiliations, consented to purchase LifeLock Inc. for about $2.3 billion merging commitment to make in relationship for personality security.

The offer for LifeLock values its shares at $24 each, as appeared by a Business Wire divulgence. The offer is 16 percent over Friday's end cost. The Tempe, Arizona-based affiliation was chase down after by bidders including private regard firms Permira, TPG and Evergreen Coast Capital, the new buyout arm of theoretical stock endeavors Elliott Management, as showed up by individuals acquainted with the matter, who requested that not be named in light of the way that the structure is private.

Symantec, the creator of Norton antivirus programming, has been re-orientating its business all the more overwhelmingly toward cybersecurity, getting Blue Coat Inc. from Bain Capital this year in a $4.65 billion technique. Prior in the year, Mountain View, California-based Symantec sold information stockpiling unit Veritas to Carlyle Group LP for $7.4 billion.

Source:- mercurynews

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