Gen Digital Inc. announced a definitive agreement to acquire fintech firm MoneyLion Inc. in an all-cash deal valued at approximately $1 billion. MoneyLion shareholders will receive $82.00 per share in cash, along with one contingent value right (CVR) per share, entitling them to a conditional payment of $23.00 in Gen common stock if specific share price targets are met.
This strategic acquisition is expected to significantly expand Gen's total addressable market to over $50 billion, accelerating its entry into the financial wellness sector. MoneyLion's platform, which includes credit building and financial management services, will enhance Gen's offerings beyond traditional cyber safety.
The transaction, unanimously approved by both companies' boards, is anticipated to be accretive to Gen's non-GAAP EPS and reinforces its commitment to achieving net leverage below 3x EBITDA by fiscal year 2027. The acquisition is expected to close in the first half of Gen's fiscal year 2026.
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