Symantec $2.3 billion acquisition of LifeLock

Overview:

• Technology company Symantec has completed its acquisition of identity theft protection company LifeLock in a $2.3 billion all-cash deal.
• The resulting entity is the largest digital safety platform for consumers.
• The price tag comes to $24 per LifeLock share.
• The purchase's announcement came about five months after the completion of Symantec's acquisition of technology security firm Blue Coat.
• Symantec funded the deal with available cash and $750 million of new debt.
• Bank of America, Barclays, Citi, JPMorgan, Merrill Lynch, and Wells Fargo acted as financial advisers for Symantec.
• Goldman Sachs served as LifeLock's exclusive financial adviser.

Kurt Stumpo - Journalist