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Symantec to buy LifeLock in $2.3B cybersecurity push

Nov 22, 2016 - The Deal Pipeline

Security software maker Symantec Corp. (SYMC) took another step to transform itself into a cybersecurity player by agreeing to buy LifeLock Inc. (LOCK) for $2.3 billion.

Mountain View, Calif.-based Symantec said Sunday it had reached an agreement to buy Tempe, Ariz.-based LifeLock for $24 per share, or for a 16% premium to the Friday closing share price of $20.75. The shares jumped almost 15% to $23.77 in premarket trading. 

"With the combination of Norton and Lif...