Symantec completes $2.3 billion deal for Arizona-based Lifelock

• Symantec closed on its $2.3 billion purchase of Lifelock, a Tempe-based ID-theft remediation firm
• Former Lifelock senior executives Hilary Schneider and Todd Davis are no longer with the company

Symantec Corp. said it has completed its acquisition of Tempe-based Lifelock Inc., three months after the $2.3 billion deal was announced.

Lifelock's shareholders overwhelmingly approved the transaction Jan. 26. The company's stock, which traded under the symbol LOCK, has been delisted. The company employs 855 people, 514 of whom are in Arizona.

Lifelock is the second notable Arizona-based public corporation to lose its independence during the past two weeks, following the completed purchase of Apollo Education Corp., parent of the University of Phoenix, by a private-equity consortium.

“The combination of Symantec, the leader in consumer security, and LifeLock, with more than 4.5 million members, paves the way for us to deliver comprehensive digital safety solutions for consumers who face an onslaught of new risks every day,” said Symantec's CEO, Greg Clark, in a statement. "Consumers will now have a single place to get the protection services they need for their entire digital lives — from two trusted, industry-leading brands.” 

Lifelock becomes a subsidiary of Symantec, a public corporation headquartered in Mountain View, Calif., that generates about $3.8 billion in annual revenue with about 11,000 pre-acquisition employees.

Lifelock senior executives Hilary Schneider and Todd Davis terminated their employment upon completion of the acquisition. 

Davis, the company's founder and a former Lifelock CEO, used to reveal his Social Security number in advertisements designed to tout the company's identity-theft remediation services. Schneider, Lifelock's most recent CEO, was one of only three women heading prominent Arizona-based public corporations.

Reach the reporter at russ.wiles@arizonarepublic.com or 602-444-8616.