Finnish IT security firm F-Secure acquired Lookout's consumer mobile security division for $223M (€202M).
The transaction is expected to generate annual revenue synergies of €12M ($13.2M)
for F-Secure. The acquisition will enable F-Secure to nearly triple its
presence in the U.S. and bolster its suite of consumer security
products.
- F-Secure
intends to leverage Lookout's technology to strengthen its market
position in the global communication service provider segment.
- Lookout
will use the proceeds from the transaction to "evolve into a pure-play
enterprise company," which will focus on mobile endpoint security and
cloud security.
- Per Crunchbase, Lookout has raised over $432M in total funding to date, including a $150M Series F round led by T.Rowe Price Associates in mid-2014.
- Notable backers of the firm include Andreessen Horowitz, Accel, Greylock, Morgan Stanley, and Jeff Bezos.
