Norton LifeLock, which has a market capitalisation of more than $16 billion, has attracted a number of deals, including mcAfee, a well-known antivirus company, according to people familiar with the matter. The company is currently considering a merger with McAfee’s consumer business, an antivirus software company owned by Intel, private equity firm TPG and Thoma Bravo LLC, the person said.
In addition to McAfee, potential acquirers at Norton LifeLock include Advent International Corp, a US private equity firm, and Permira, the European private equity giant. The Wall Street Journal reported that several private-equity firms have also expressed interest in the deal.
Headquartered in Mountain View, California, Norton LifeLock is the new name for Symantec. After being acquired by Broadcom Inc. in August, it announced a rebranding in early November, renamed Norton LifeLock Inc., which changed its name on the Nasdaq exchange from SYMC to NLOK.
Symantec will continue to exist because of Broadcom’s naming rights to the company’s previous corporate security products. Norton LifeLock rose 1.85 per cent to $24.19 on the first day of trading, with analysts such as Fatima Bolani of UBS rating the stock as “buy” with a target price of $27 a share.
In addition, Broadcom has acquired the Symantec brand, which will be the corporate division of Broadcom Symantec, with Art Gilliland, General Manager of Symantec Security, as Senior Vice President of Broadcom and General Manager of Symantec Enterprises. Senior netizens may also remember Norton antivirus software, Symantec 1990 Norton, and LifeLock is actually Symantec acquired anti-theft software company, now Symantec these two brands merged, will focus on consumer-grade security software business.