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NortonLifeLock (NASDAQ: NLOK) announced a delay in the merger with Avast due to regulatory scrutiny from the UK's Competition and Markets Authority (CMA). The CMA plans to refer the merger for a Phase 2 investigation unless the company offers remedies to address competition concerns. NortonLifeLock, confident in the merger's benefits for consumers, expects the transaction to close in mid-to-late 2022. The merger has received clearance from regulators in the U.S., Germany, and Spain.
NortonLifeLock (NASDAQ: NLOK) has launched the Norton Identity Advisor Plus in the U.K., providing dedicated support for victims of identity theft. The service includes access to Identity Restoration Specialists, social media monitoring, and dark web scanning. According to a recent survey, 55% of U.K. adults are unsure how to react to identity theft, underscoring the need for such a service. Norton aims to empower users with tools and expertise to navigate this complex issue, enhancing overall cyber safety.
NortonLifeLock (NASDAQ: NLOK) announced its sponsorship of the 2022 South by Southwest (SXSW) Tech Industry Track, taking place from March 11-16 in Austin, TX. The event will feature The Norton Bright Lounge and a panel on Cyber Safety in the metaverse. Norton emphasizes the importance of Cyber Safety solutions for consumer empowerment against cybercrime. Additionally, the company donated $25,000 to Girls Who Code to promote gender diversity in tech.
NortonLifeLock (NASDAQ: NLOK) announced that its device protection solutions have received four awards from AV-TEST Institute, including accolades for Norton 360 in Best Performance and Best Protection for Windows Home User, as well as Best MacOS Security. Avira Internet Security also won the Best Usability award. This marks the seventh consecutive year of recognition for NortonLifeLock products. In 2021, the company successfully blocked 3.6 billion threats, emphasizing its commitment to Cyber Safety and user trust.
NortonLifeLock (NASDAQ: NLOK) announced it has received antitrust clearance in Spain for its merger with Avast plc. This clearance marks a significant milestone, as the U.K. Competition and Markets Authority's review remains the final regulatory hurdle. The merger, proposed to be finalized by April 4, 2022, involves Nitro Bidco Limited, a subsidiary of NortonLifeLock, acquiring all outstanding shares of Avast. Details regarding the transaction can be found on NortonLifeLock's investor relations website.
NortonLifeLock (NASDAQ: NLOK) announced a revised closing date for its merger with Avast plc, now expected to close on April 4, 2022. This update follows ongoing progress in securing the necessary regulatory approvals in the United Kingdom and Spain. The merger will be executed through a U.K. court-sanctioned scheme of arrangement, with the official terms released on October 28, 2021. Additional details will be provided in an announcement due on February 18, 2022.
On February 9, 2022, NortonLifeLock (NASDAQ: NLOK) released findings from a global study on online dating behaviors, revealing that 49% of U.S. online daters conduct social media searches on potential matches. Conducted in partnership with The Harris Poll, the survey included 1,000 U.S. adults. Alarmingly, 28% of respondents admit to checking a match's friends or family online, and 14% have paid for background checks. The study highlights trends in online 'creeping,' particularly among younger generations, with 39% of 18-39-year-olds showing a willingness to stalk an ex-partner online if undetected.
NortonLifeLock (NASDAQ: NLOK) has achieved significant regulatory milestones for its planned merger with Avast plc. The Federal Cartel Office of Germany has granted antitrust clearance, and the U.K. Secretary of State confirmed no action under the National Security and Investment Act. The merger is set to proceed via a court-sanctioned scheme, with a completion date anticipated on February 24, 2022, subject to additional regulatory conditions. This merger is pivotal in enhancing NortonLifeLock's position in the consumer Cyber Safety sector.
NortonLifeLock Inc. (NASDAQ: NLOK) reported strong fiscal Q3 2022 results, with revenue of $702 million, a 10% year-over-year increase. Diluted EPS rose 17% to $0.34. Operating cash flow reached $330 million, up 13%. Non-GAAP revenue was $704 million, with a diluted EPS of $0.44, marking a 16% increase. The company plans to finalize its merger with Avast by February 24, 2022. A quarterly dividend of $0.125 per share is scheduled for distribution on March 16, 2022.
NortonLifeLock has launched a new Social Media Monitoring feature aimed at enhancing account security for users. This service monitors social media accounts for account takeovers, risky activities, and inappropriate content, providing notifications for suspicious posts and links. It also offers protections for children against cyberbullying, alerting users to potential threats like explicit or violent content. The feature is available in LifeLock Ultimate Plus and Norton 360 with LifeLock Ultimate Plus subscriptions.
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