Symantec to Acquire LifeLock for $2.3 Billion, Injecting Growth Into Its Consumer Business
On Nov. 21, Symantec announced its intent to acquire LifeLock Inc. for $24 per share or $2.3 billion in cash, which represents a 16% premium over the last closing price of $20.75. We believe this deal makes strategic sense as it broadens Symantec’s Consumer Portfolio with a highly relevant service offering that addresses online fraud detection. The deal will rejuvenate revenue growth of Symantec’s declining Consumer Business but will be offset by lower operating margins, which is a reasonable tr...Symantec is a provider of cyber security. The company provides cyber security products, services and solutions to organizations and individuals worldwide. The company's Enterprise Security portfolio includes a mix of products, services and solutions, delivered as part of an Integrated Cyber Defense platform. The company's platform unifies cloud and on-premises security to provide threat protection and information protection across endpoints, networks, email, and cloud applications. The company also provides services, support services, and cyber security services. The company's Cyber Safety solutions from Norton LifeLock help consumers protect their devices, online privacy, identities, and home networks.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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