Symantec to Buy Cyber Defence Firm for $2.3 Billion

Symantec is investing in anti-cybercrime technology by agreeing to purchase LifeLock, an identity-theft-protection company. The deal is worth about $2.3 billion and will create the world’s largest ‘digital safety platform’. Lifelock provides identity theft protection for consumers as well as credit and risk assessments for businesses. It reportedly has 4.4 million customers and annual revenues of $660 million. Symantec said that the combination of Norton and LifeLock will deliver comprehensive cyber defence for consumers.