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Symantec agrees deal to acquire Lifelock for US$2.3 billion

By Kenny Yeo - on 24 Nov 2016, 10:20am

Symantec agrees deal to acquire Lifelock for US$2.3 billion

Symantec has just announced that it has agreed to a deal to acquire LifeLock for US$2.3 billion. The deal will see Symantec becoming one of the world's largest computer security firms.

Symantec owns the Norton suite of cybersecurity software, while LifeLock is a computer security company that specializes in in identify theft protection services for consumers and enterprise.

Symantec CEO Greg Clark said:

"As we all know, consumer cybercrime has reached crisis levels. LifeLock is a leading provider of identity and fraud protection services, with over 4.4 million highly-satisfied members and growing. With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defence for consumers."

According to reports, Symantec is looking to integrate LifeLock with its Norton suite of security utilties  as soon as the acquisition closes, which is expected to be early next year.

Source: Symantec