13th Jan 2020 15:16
(Alliance News) - Cyber security firm NortonLifeLock Inc on Monday said it has sold its ID Analytics, credit and fraud software solutions unit, for USD375 million to London-listed business information publisher RELX PLC.
As part of the deal, ID Analytics will become part of LexisNexis Risk Solutions Business Services, RELX's analytics and fraud prevention subsidiary.
NortonLifeLock Chief Executive Officer Vincent Pilette said: "The sale of ID Analytics is another step in the transformation of NortonLifeLock into a pure-play consumer cyber safety leader. We can now be completely focused on our singular mission to protect all areas of consumers' online lives."
The deal, subject to regulatory consent, is expected to be completed in the first quarter of 2020.
LexisNexis Risk Soultions Business Services Chief Executive Rick Trainor said: "ID Analytics is widely recognized in the fraud and identity and credit risk space for its differentiated contributory data assets and advanced analytics capabilities. 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."
Norton shares were 0.9% lower at USD26.26 in New York on Monday. RELX was trading 0.6% higher at 1,943.00 in London.
By Eric Cunha; [email protected]
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