F-Secure, one of the leading providers in the cybersecurity industry, has announced its intention to acquire Lookout’s mobile security business. The deal is expected to be finalized by June of this year, although the financial terms have yet to be disclosed. Lookout is a company that was established in 2009, offering mobile endpoint security solutions with millions of users and over hundreds of millions in funding.
The acquisition is part of F-Secure’s plan to become a pure-play enterprise security solutions provider. It plans to integrate the newly acquired tech into its endpoint and cloud security solutions, thus providing comprehensive security solutions for both consumers and enterprises.
The mobile security market is expected to reach $13 billion by the end of 2030, according to a market study by Emergen Research. The growth of the industry is attributed to the increasing usage of smartphones, the rise in adoption of third-party apps, and the growing productivity of employees through BYOD and WFH culture. Among both iOS and Android, the former stands as the most dependable operating system, as Apple does not allow developers to exploit its source code and does not permit iPhone and iPad owners to customize the code as per their needs.
In conclusion, the acquisition of Lookout’s mobile security business by F-Secure is a strategic move that will benefit both companies and their customers. The mobile security market is expected to witness significant growth in the coming years, and this acquisition will help F-Secure become a major player in the industry.
Key Points:
• F-Secure has announced its intention to acquire Lookout’s mobile security business
• The deal is expected to be finalized by June of this year
• F-Secure plans to integrate the newly acquired tech into its endpoint and cloud security solutions
• The mobile security market is expected to reach $13 billion by the end of 2030
• The acquisition of Lookout’s mobile security business by F-Secure will help F-Secure become a major player in the industry
