F-Secure acquires the Lookout consumer mobile security business

Friday 28 April 2023 14:30 CET | News

Endpoint-to-cloud security company Lookout has entered an agreement to have its consumer mobile security business segment acquired by cybersecurity company F-Secure.


The complementary acquisition is set to expand F-Secure’s market reach in the communication service provider channel, whereas Lookout’s core business is set to evolve into a ‘pure-play’ enterprise company.

Cybersecurity and what the F-Secure, Lookout acquisition entails

In the current cybersecurity landscape, consumers require consolidated solutions that help secure each aspect of their digital lives in a simplified experience, said Jim Dolce, Lookout CEO. Per their statement, the combination with F-Secure helps create a holistic, integrated consumer experience while building on a shared partner-centric go-to-market model.

Following the partial divestiture, Lookout’s core enterprise business will keep on expanding and diversifying to tackle the most pressing security challenges that IT and security leaders are currently facing. The core business consists of Lookout’s Mobile Endpoint Security (MES) and its Security Services Edge (SSE) cloud-native solution, together with the Lookout Cloud Security Platform, and the company plans to redirect the transaction proceeds back into the business and invest in expanding both its products and customer base.

Lookout has entered an agreement to have its consumer mobile security business segment acquired by cybersecurity company F Secure.

Lookout’s official added that the company’s success in the enterprise market has compelled it to focus on product and go-to-market efforts, stating that by ‘doubling down’ on the market they’d be better positioned to capitalise on the projected growth due to an increase in remote and hybrid work, a switch to cloud-based delivery models, and the transition to zero-trust architectures.

The announcement further highlights that Lookout’s consumer mobile security business segment divestiture is expected to come to a close by the end of June 2023.

Lookout’s strategy and offering

Lookout is an endpoint-to-cloud security company purpose-built for the intersection of enterprise and personal data, safeguarding data across devices, apps, networks, and clouds through a unified, cloud-native security platform.

The company started originally as a consumer-focused smartphone and data backup business, having gradually expanded into the business space, partnering with technology companies of the likes of Samsung, as per a TechCrunch post. In 2021, the company looked to cement its B2B credentials with the acquisition of cloud-native cybersecurity startup CipherCloud, a company with a focus on the secure access service edge (SASE) security segment.

Although the company still provides a security products suite for the consumers market, its trajectory has been towards the enterprise sector, which is why the remnants of its consumer business have been handed to F-Secure, a consumer cybersecurity company providing services that range from password management tools to antivirus applications.

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Keywords: acquisition, cybersecurity, cloud services, cloud, fraud prevention, antivirus, data protection, data, fraud platform, fintech, digitalisation
Categories: Fraud & Financial Crime
Companies: F-Secure, Lookout
Countries: United States
This article is part of category

Fraud & Financial Crime




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