November 20, 2016
Computer-security-software maker Symantec Corp. has agreed to acquire LifeLock Inc., a seller of identity-theft protection services, for $2.3 billion in cash, according to a person familiar with the matter.
The deal will value LifeLock LOCK, at $24 a share, a 16% premium to its Friday price of $20.75, near its 52-week high.
The deal broadens Symantec’s SYMC, portfolio at a time when the 34-year-old company is looking to break out beyond its traditional strength in antivirus software.