(Reuters) – Norton and Avast proprietor Gen Digital has agreed to purchase fintech agency MoneyLion in an all-cash deal valued at about $1 billion to beef up its client finance choices, the businesses stated on Tuesday.
Gen Digital can pay $82 for every MoneyLion share, a 6.5% premium to MoneyLion’s final closing worth.
Moreover, MoneyLion shareholders will obtain one contingent worth proper per share, entitling them to $23 in Gen Digital widespread shares, topic to Gen Digital’s future inventory efficiency.
The acquisition will develop Gen Digital’s monetary wellness choices by leveraging MoneyLion’s private finance platform, which boasts over 18 million customers and gives credit-building and monetary administration providers, the businesses stated.
Gen Digital’s present monetary service helps monetary establishments cut back fraud bills by integrating cyber security options that improve buyer knowledge safety on-line.
The cybersecurity agency, which presents consolidated platforms for a subscription price, has benefited from companies growing their give attention to knowledge and enterprise safety, particularly as they combine generative AI know-how into their operations.
The deal is anticipated to shut within the first half of Gen Digital’s fiscal yr 2026 and can enhance the corporate’s adjusted per-share revenue.
(This story has been refiled to repair the day of the week to Tuesday in paragraph 1)