Lookout sells its consumer cybersecurity business to F-Secure for $223M

[a090]

Content source

https://techcrunch.com/2023/04/26/lookout-sells-its-consumer-cybersecurity-business-to-f-secure-and-goes-all-in-on-the-enterprise/

Lookout’s long-running transition to becoming an enterprise security company is all but complete, revealing today that it’s selling its consumer mobile security business to Finland’s F-Secure in a deal valued at around $223 million.

Founded out of San Francisco in 2009, Lookout originally started as a consumer-focused smartphone security and data backup business, garnering millions of users and hundreds of millions in funding from esteemed investors, including Andreessen Horowitz, Accel, Greylock, Morgan Stanley, Deutsche Telekom and Jeff Bezos.

“Our success in the highly competitive enterprise market has compelled us to focus our product and go-to-market efforts to gain advantage,” Lookout CEO Jim Dolce noted in a press release. “By doubling down on the enterprise market, we’ll be better positioned to capitalize on its projected hypergrowth, fueled by an increase in remote and hybrid work, a shift to cloud-based delivery models and the transition to zero-trust architectures.”

For F-Secure, the deal gives it a stronger foothold in the U.S. market specifically, as well as bolstering its existing consumer software lineup with a suite of fairly similar products.

“In line with F-Secure strategy, we are seeking growth both organically and through acquisitions,” F-Secure CEO Timo Laaksonen said in a statement. “The acquisition of Lookout consumer business unit is a significant step in developing our business in the United States. With a complementary software product portfolio and strong competence in developing mobile products, Lookout consumer business unit is a perfect fit for F-Secure.

Link: Lookout sells its consumer cybersecurity business to F-Secure for $223M and goes all-in on the enterprise

 

[a090]

I think I know why F-Secure bought Lookout. They missed their old logo!

Edit: On a more serious note, F-Secure’s mobile apps are likely about to get some major upgrades. Won’t be too surprised if they get overhauled completely. Although that is unlikely since they recently ported over to this “universal UI” they’ve got going on. Same exact UI across all platforms, mobile and desktop alike.

And interestingly enough, I upgraded from Internet Security to Total recently to leverage F-Secure’s VPN (fantastic product: good speeds, no leaks, and no sus IPs so ZERO CAPTCHAS on Google and other sites). And as soon as I upgraded, all of my F-Secure products across my desktop and tablet devices immediately added the extra features found in Total. Almost like these features were already there in the UI, just hidden, and needed to be “unlocked.”

I didn’t need to reinstall or update the app at all. Seamless and immediate upgrades within seconds. All I did was re-open the F-Secure UI. Impressive.

 

[MuzzMelbourne]

...Lookout CEO Jim Dolce noted in a press release. “By doubling down on the enterprise market, we’ll be better positioned to capitalize on its projected hypergrowth, fueled by an increase in remote and hybrid work, a shift to cloud-based delivery models and the transition to zero-trust architectures.”...

This sentence wasn't possible 10 years ago... any wonder 'boomers' are losing their investments!