NortonLifeLock (NASDAQ: NLOK) announced on Monday that it has agreed to sell its ID Analytics business to LexisNexis Risk Solutions for $375 million.
Founded in 2002, San Diego-based ID Analytics offers solutions that provide risk insights to enterprises through the combination of proprietary data, analytics, and near real-time cross-industry consumer identity behavior. The company counts more than 450 customers in the U.S. that use its solutions to make risk-based decisions to improve customer experiences, enhance revenue, reduce fraud and drive cost savings.
ID Analytics will become part of the LexisNexis Risk Solutions Business Services group, which is owned by RELX Group.
“Combined with our strengths of verifying and authenticating physical and digital identities, our customers will benefit from an even more comprehensive approach to detecting and preventing fraud and managing risk,” Rick Trainor, CEO of LexisNexis Risk Solutions, Business Services, said.
“The sale of ID Analytics is another step in the transformation of NortonLifeLock into a pure-play consumer cyber safety leader,” says Vincent Pilette, CEO, NortonLifeLock. “We can now be completely focused on our singular mission to protect all areas of consumers’ online lives.”
The transaction is expected to close in Q1 2020.
The NortonLifeLock brand came as a result of Symantec Corp selling its enterprise security unit and Symantec brand to Broadcom for $10.7 billion in November 2019. On January 7, Accenture announced that it had agreed to acquire Symantec’s Cyber Security Services business from Broadcom for an undisclosed sum.