Gen Digital Secures $1 Billion Acquisition of MoneyLion: A Game-Changer in Fintech

Gen Digital, a leading cybersecurity and digital privacy company based in Tempe, Arizona, has made headlines with its recent acquisition of MoneyLion, a prominent financial technology firm located in New York. This strategic move significantly enhances Gen’s footprint in the financial wellness sector, empowering consumers to effectively manage and safeguard both their digital and financial lives.

Strategic Acquisition of MoneyLion

Vincent Pilette, the CEO of Gen, expressed his enthusiasm about the acquisition, stating, “We’re thrilled to welcome MoneyLion to the Gen family. The addition of MoneyLion accelerates our position to redefine financial empowerment in a digital-first world.” This acquisition not only combines Gen’s extensive experience in cybersecurity but also integrates it with MoneyLion’s innovative financial ecosystem.

Empowering Consumers with Comprehensive Solutions

Through this merger, Gen aims to provide consumers with intuitive and holistic solutions they can trust. The collaboration intends to:

• Enhance financial decision-making: By leveraging both companies’ strengths, consumers can make smarter financial choices.
• Increase control over finances: Users will have more tools at their disposal to manage their financial health.
• Promote lasting financial well-being: By integrating cybersecurity measures with financial management, Gen aims to build a safer financial experience for users.

Details of the Acquisition Deal

The acquisition was finalized at US$82.00 per share in cash, bringing the total transaction value to approximately US$1 billion. Additionally, MoneyLion shareholders will receive one contingent value right (CVR) per share, offering a conditional payment of US$23.00 in Gen common stock if certain performance metrics are met.

Contingent Value Rights Explained

The CVRs are designed to reward shareholders under specific conditions:

1. If, prior to April 17, 2027, Gen’s average share price exceeds US$37.50 for more than 30 consecutive trading days.
2. If Gen undergoes a change of control.

These CVRs have already been approved for listing on the Nasdaq Stock Market.

Conclusion

This acquisition represents a pivotal moment for Gen Digital as it expands its offerings in the financial wellness space. By combining forces with MoneyLion, Gen is set to transform how consumers navigate their financial journeys in an increasingly digital world. For more information on cybersecurity and digital privacy, visit our cybersecurity resources.