NortonLifeLock to acquire Aviva for $360 million

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Cybersecurity company NortonLifeLock Inc. announced Monday morning that it plans to acquire Aviva, a company that makes security solutions for computers, smartphone, home networks, and smart devices. The company intends to pay about $360 million to acquire Aviva from Investcorp Technology Partners. NortonLifeLock expects that the deal will accelerate its growth in Europe and emerging markets while bringing a “freemium” business model to the company. NortonLifeLock also anticipates that the deal will be accretive in the first year. Shares of NortonLifeLock are up 0.8% in morning trading Monday. The stock has fallen about 24% so far this year as the S&P 500 has gained roughly 14%.
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