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NortonLifeLock reported its Q3 fiscal year 2021 results, highlighting a 3% increase in GAAP revenue to $639 million year-over-year. The GAAP operating margin rose to 43.8%, up 33.8 points, while diluted EPS decreased by 47% to $0.29. Non-GAAP results showed revenue growth of 6% to $639 million and diluted EPS of $0.38, up 52%. The company added over 876,000 new customers, totaling 21 million, and reported billings of $700 million. A quarterly cash dividend of $0.125 per share was declared for March 17, 2021. The successful acquisition of Avira is also noted.
NortonLifeLock (NASDAQ: NLOK) has launched Norton™ 360 for Gamers, a comprehensive security solution tailored for the gaming community. The product aims to protect gamers' personal information and digital assets amidst rising cyber threats, especially during the pandemic, which has seen a surge in online gaming. Key features include Dark Web Monitoring, a Secure VPN, and optimized notifications designed to minimize interruptions during gameplay. The announcement comes in response to surveys indicating significant concern among gamers about security, with 65% worried about future vulnerabilities and 35% having experienced hacks.
NortonLifeLock (NASDAQ: NLOK) announced the election of Sherrese Smith and Emily Heath to its Board of Directors effective immediately. Smith, a partner at Paul Hastings LLP, brings extensive experience in data privacy and cybersecurity, while Heath serves as Chief Trust and Security Officer at DocuSign. The company also noted the immediate resignation of David Humphrey from the Board following Bain Capital's investment and the transition to a standalone consumer Cyber Safety entity. Chairman Frank E. Dangeard expressed confidence in the new appointees' ability to positively impact the company.
NortonLifeLock (NASDAQ: NLOK) will release its fiscal 2021 Q3 financial results on February 4, 2021, after market close. The company will hold a conference call at 2 p.m. PST / 5 p.m. EST, accessible via dial-in or webcast. NortonLifeLock is a leader in consumer Cyber Safety, aiming to protect around 50 million consumers' digital lives through a diverse range of security products. The earnings call will provide insights into their financial performance and future outlook.
NortonLifeLock (NASDAQ: NLOK) has launched the new Norton™ 360 app, unifying device security, online privacy, and identity features into a single platform for its customers. Available on Google Play and Apple App Store, this app enhances user experience by consolidating multiple apps into one. Key features include Dark Web Monitoring, secure VPN, device security alerts, and app advisories to protect against malware. The app aims to provide seamless, comprehensive Cyber Safety management for approximately 50 million consumers worldwide.
Investcorp has entered a definitive agreement to sell Avira, a cybersecurity solutions firm, to NortonLifeLock (NLOK) for approximately $360 million. The transaction is expected to close in Q1 2021, pending regulatory approvals. Avira offers a range of security solutions and has over 30 million protected devices globally. This sale marks the first exit from Investcorp's $400 million Technology Partners Fund IV. Both companies aim to enhance their market presence and services in the growing cybersecurity sector.
NortonLifeLock (NASDAQ: NLOK) has announced the acquisition of Avira for approximately $360 million in an all-cash transaction. This strategic move aims to enhance NortonLifeLock's cybersecurity offerings, particularly in Europe and emerging markets. With more than 30 million active devices and a freemium business model, the deal is expected to add 3 points of revenue growth and achieve a 50% operating margin post-synergies. The integration is anticipated to close in the fourth quarter of Fiscal 2021, subject to regulatory approvals.
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