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Symantec to acquire identity theft protection provider LifeLock for $2.3 billion
Cyber security firm Symantec Corporation on Monday announced intentions to acquire identity theft protection company LifeLock for $2.3 billion.Shareholders will receive $24 per share, a 16 percent premium over the $20.75 closing price this past Friday.Symantec said it is financing the purchase with cash on its balance sheet plus $750 million of new debt.
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Symantec to acquire LifeLock for $2.3 billion
The Symantec booth is seen during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. August 3, 2016.REUTERS/David Becker/File PhotoSymantec Corp (SYMC.O) said it would acquire U.S. identity theft protection services company LifeLock Inc (LOCK.N) for $2.3 billion, in a deal that it hopes will prop up sales at its Norton cybersecurity unit.Symantec's security software often comes bundled with personal computers.
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Symantec to acquire LifeLock for $2.3 billion
Symantec plans to acquire LifeLock for $2.3 billion (Photo: Symantec)Computer security giant Symantec said it will buy the identity protection service LifeLock for $2.3 billion.Symantec will finance the deal with a combination of cash and $750 million of new debt, the company said in a statement.The deal will close during the first calendar quarter of 2017.
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