San Francisco-based endpoint security startup Lookout sold its consumer mobile security division to Finnish IT security firm F-Secure for $223M (€202M).
The acquisition will nearly triple F-Secure's presence in the U.S. and expand its consumer security products suite. F-Secure expects the deal to produce annual revenue synergies of $13.2M (€12M).
F-Secure plans to leverage Lookout's technologies to solidify its market dominance in the global communication service provider segment.
- Meanwhile, Lookout will use the proceeds to transition into a "pure-play enterprise company," focussing on mobile endpoint security and cloud security.
- Per Crunchbase, Lookout has raised over $432M in total funding to date.
- T.Rowe Price Associates led a $150M Series F round in mid-2014.
- Lookout is backed by Andreessen Horowitz, Accel, Greylock, Morgan Stanley, and Jeff Bezos.
