Symantec to purchase LifeLock in $2.3 billion cybersecurity deal

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.

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