Private equity

Symantec Consumer Security Business: For Sale?

Private equity firms may want to acquire Symantec's consumer cybersecurity business for roughly $16 billion, according to The Wall Street Journal.

The Symantec consumer business essentially spans Norton and Lifelock offerings. The potential deal is not to be confused with Symantec's enterprise business, which Broadcom is acquiring for $$10.7 billion.

Permira and Advent International recently approached Symantec proposing a takeover deal valuing Symantec's consumer business at  at $26 to $27 a share, The Journal reports. Symantec, Permira and Advent did not immediately respond to requests for comment from Reuters and The Journal, the reports said.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.