Norton antivirus software maker in talks to acquire GoDaddy
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The Financial Times reports that talks are in the early stages. Gen Digital, the company behind Norton 360 antivirus software, is in talks to acquire GoDaddy. The Financial Times reported that the talks are in an early stage. Gen Digital was formed in 2022 through the merger of NortonLifeLock and Avast. It's a rollup of consumer cybersecurity brands. Before the news broke today, Gen Digital (NASDAQ: GEN) had a market cap of $15.7 billion. GoDaddy (NYSE: GDDY) had a market cap of $12.2 billion. After the news, Gen Digital's stock fell 7%, lowering its market cap to $14.6 billion, while GoDaddy's rose over 13%, pushing its market cap to $13.6 billion. GoDaddy's stock has been hit by fears over AI's impact on its business. It wouldn't be surprising to see other companies approach the company about an acquisition, perhaps to take it private.
