Mobile security consolidation as F-Secure buys Lookout’s consumer arm

Finnish cybersecurity company F-Secure is buying the consumer mobile security business of Lookout to boost its presence in the US market.

Scott Bicheno

April 27, 2023

2 Min Read
Mobile security consolidation as F-Secure buys Lookout’s consumer arm
Woman using smartphone with icon graphic cyber security network of connected devices and personal data information

Finnish cybersecurity company F-Secure is buying the consumer mobile security business of Lookout to boost its presence in the US market.

The enterprise value of the acquisition is $223 million and we’re told will triple F-Secure’s presence on the other side of the pond. Another primary aim of the move is boost F-Secure’s place in the tier-1 communications service provider market. The consumer mobile security product portfolios seem fairly similar, so there will be plenty of the inevitable synergies there.

“The acquisition of Lookout consumer BU is a significant step in developing our business in the United States,” said Timo Laaksonen, CEO of F-Secure. “With a complementary software product portfolio and strong competence in developing mobile products, Lookout consumer BU is a perfect fit for F-Secure. The acquisition presents a truly unique opportunity for us to grow in the most attractive cyber security market in the world through a highly complementary partner-oriented business with similar views on future direction.”

“Consumers want consolidated solutions that secure every aspect of their digital lives in a seamless experience,” said Jim Dolce, CEO of Lookout. “By incorporating Lookout consumer BU, F-Secure is uniquely equipped to deliver on this vision. The impact on customers is a genuine example of when one plus one equals three. We look forward to working with the F-Secure team and are delighted to have found a partner with the same vision and goals for our consumer business.”

While this represents consolidation in the consumer mobile security market, it’s also a product of moves by both companies to draw a clear line between their consumer and B2B offerings. In Lookout’s case, it will focus exclusively on the business market from now on, while F-Secure recently demerged itself to create a distinct corporate cybersecurity entity called WithSecure.

 

Get the latest news straight to your inbox. Register for the Telecoms.com newsletter here.

About the Author

Scott Bicheno

As the Editorial Director of Telecoms.com, Scott oversees all editorial activity on the site and also manages the Telecoms.com Intelligence arm, which focuses on analysis and bespoke content.
Scott has been covering the mobile phone and broader technology industries for over ten years. Prior to Telecoms.com Scott was the primary smartphone specialist at industry analyst Strategy Analytics’. Before that Scott was a technology journalist, covering the PC and telecoms sectors from a business perspective.
Follow him @scottbicheno

Subscribe and receive the latest news from the industry.
Join 56,000+ members. Yes it's completely free.

You May Also Like