LexisNexis Risk Solutions, a global data and analytics company, has acquired NortonLifeLock's ID Analytics (IDA) credit and fraud risk solutions business for $375 million. The acquisition comes after NortonLifeLock recently announced it would lay off more than 100 employees across its San Francisco Bay Area and Plano, Texas locations.
IDA will join LexisNexis Risk Solutions' Business Services group, according to the companies. In addition, NortonLifeLock customers will continue to receive IDA credit and fraud risk alerts.
IDA provides credit and fraud risk solutions that offer analytics and insights into consumer behaviors. More than 450 companies in the United States use these solutions to make risk-based decisions to improve customer experiences, accelerate revenue growth and reduce fraud, NortonLifeLock said.
Is NortonLifeLock for Sale?
NortonLifeLock operates as a standalone cybersecurity company; this has been the case since Broadcom acquired its sister company, Symantec's enterprise business, in August 2019. More recently, Broadcom sold Symantec's MSSP business to Accenture.