Gen Digital to Acquire MoneyLion for $1 Billion

(Reuters) – Norton and Avast owner Gen Digital has agreed to buy fintech firm MoneyLion in an all-cash deal valued at about $1 billion to strengthen its consumer finance offerings, the companies announced on Tuesday.

Deal Details

Gen Digital will pay $82 for each MoneyLion share, reflecting a 6.5% premium to MoneyLion's last closing price. Additionally, MoneyLion shareholders will receive one contingent value right per share, which entitles them to $23 in Gen Digital common shares, depending on Gen Digital's future stock performance.

Strategic Expansion

The acquisition will enhance Gen Digital's financial wellness offerings by leveraging MoneyLion's personal finance platform, which serves over 18 million users and provides credit-building and financial management services.

Gen Digital’s existing financial service aids institutions in reducing fraud expenses by integrating cyber safety solutions that bolster customer data protection online. The cybersecurity firm has thrived as businesses increasingly prioritize data and enterprise protection, particularly while integrating generative AI technology into their operations.

Closing Timeline

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