Avast antivirus owner Gen Digital acquires MoneyLion in $1 billion deal

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Avast antivirus owner Gen Digital acquires MoneyLion in $1 billion deal - Channel News Asia

Quick Summary:

Norton and Avast owner Gen Digital has agreed to buy fintech firm MoneyLion in an all-cash deal valued at about $1 billion to beef up its consumer finance offerings, the companies said on Tuesday.

Gen Digital will pay $82 for each MoneyLion share, a 6.5 per cent premium to MoneyLion's last closing price.

The deal is expected to close in the first half of Gen Digital's fiscal year 2026 and will boost the company's adjusted per-share profit.