Gen Digital, a cybersecurity and digital privacy company based in Tempe, Arizona, has completed its acquisition of MoneyLion, a financial technology firm headquartered in New York.
The move marks a significant step in Gen’s expansion into the financial wellness space, supporting consumers in managing and protecting both their digital and financial lives.
“We’re thrilled to welcome MoneyLion to the Gen family. The addition of MoneyLion accelerates our position to redefine financial empowerment in a digital-first world,”
said Vincent Pilette, CEO of Gen.
“People need intuitive, holistic solutions they can trust. We’re uniting decades of expertise and the global scale of Gen’s Consumer Cyber Safety Platform with MoneyLion’s industry-leading financial ecosystem. Gen is uniquely positioned to empower people to make smarter financial decisions, take greater control, and build lasting financial well-being.”
Under the terms of the agreement, Gen acquired MoneyLion for US$82.00 per share in cash, representing a transaction value of approximately US$1 billion.
MoneyLion shareholders are also entitled to receive one contingent value right (CVR) per share.
The CVRs offer a conditional payment of US$23.00 in the form of Gen common stock if, at any point prior to 17 April 2027, Gen’s average share price reaches or exceeds US$37.50 for more than 30 consecutive trading days, or if the company undergoes a change of control.
The CVRs have been approved for listing on the Nasdaq Stock Market.
Featured image credit: edited from freepik
