Gen Digital to acquire fintech firm MoneyLion for $1 billion to expand its financial wellness offerings

Gen Digital, the company behind Norton and Avast, is stepping into the fintech world with its $1 billion acquisition of MoneyLion. The move highlights the growing intersection of cybersecurity and financial technology as businesses look to deliver more comprehensive consumer solutions.

The deal, announced Tuesday, involves Gen Digital acquiring MoneyLion in an all-cash transaction, offering $82 per share—a 6.5% premium over MoneyLion’s last closing price. The agreement also includes a contingent value right for shareholders, granting them $23 in Gen Digital common shares based on the company’s future stock performance.

MoneyLion was founded in 2013 by Diwakar (Dee) Choubey. The fintech giant serves over 18 million users with tools for credit-building and financial management. Choubey, who previously worked at Barclays, Citadel Securities, Goldman Sachs, and Citigroup, has steered the company to become a key player in personal finance.

Gen Digital plans to incorporate MoneyLion’s platform into its existing offerings, aiming to enhance its consumer finance portfolio. This includes leveraging MoneyLion’s capabilities to address growing concerns about financial wellness and online security, especially in an era where digital fraud and data breaches are on the rise.

“Gen has a family of consumer brands that’s dedicated to protecting people’s privacy, identity and financial assets so they can live their digital lives securely and without worry,” Gen Digital CEO Vincent Pilette said. “By bringing MoneyLion into the Gen family, we’re not only helping people protect what they already have, we’re extending our capabilities to enable people to better manage and grow their financial wealth. We look forward to welcoming the MoneyLion team, so together, we can power digital and financial freedom.”

Currently, Gen Digital provides tools that help financial institutions cut down on fraud-related costs while strengthening customer data protection. Its subscription-based model has gained traction as companies increasingly prioritize secure data solutions, particularly with the integration of generative AI technologies.

The acquisition is expected to close in the first half of Gen Digital’s fiscal year 2026 and aims to improve the company’s adjusted per-share profit. As cyber threats and financial challenges continue to rise, the deal highlights how fintech and cybersecurity are increasingly interconnected.