Symantec to buy LifeLock for $2.3B

• Symantec (SYMC) agrees to acquire LifeLock (LOCK) for ~$2.3B including debt, in a deal the companies say will create the world’s largest consumer security business with more than $2.3B in annual revenue based on last fiscal year revenues for both companies.
• The deal values LOCK at $24/share, a 16% premium to its Friday closing price of $20.75.
• SYMC says it hopes to integrate the LifeLock product with its Norton antivirus businesses into a single product line after the acquisition closes.