Mobile security consolidation as F-Secure buys Lookout’s consumer arm

Finnish cybersecurity company F-Secure is buying the consumer mobile security business of Lookout to boost its presence in the US market.

The enterprise value of the acquisition is $223 million and we’re told will triple F-Secure’s presence on the other side of the pond. Another primary aim of the move is boost F-Secure’s place in the tier-1 communications service provider market. The consumer mobile security product portfolios seem fairly similar, so there will be plenty of the inevitable synergies there.

“The acquisition of Lookout consumer BU is a significant step in developing our business in the United States,” said Timo Laaksonen, CEO of F-Secure. “With a complementary software product portfolio and strong competence in developing mobile products, Lookout consumer BU is a perfect fit for F-Secure. The acquisition presents a truly unique opportunity for us to grow in the most attractive cyber security market in the world through a highly complementary partner-oriented business with similar views on future direction.”

“Consumers want consolidated solutions that secure every aspect of their digital lives in a seamless experience,” said Jim Dolce, CEO of Lookout. “By incorporating Lookout consumer BU, F-Secure is uniquely equipped to deliver on this vision. The impact on customers is a genuine example of when one plus one equals three. We look forward to working with the F-Secure team and are delighted to have found a partner with the same vision and goals for our consumer business.”

While this represents consolidation in the consumer mobile security market, it’s also a product of moves by both companies to draw a clear line between their consumer and B2B offerings. In Lookout’s case, it will focus exclusively on the business market from now on, while F-Secure recently demerged itself to create a distinct corporate cybersecurity entity called WithSecure.

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