WASHINGTON (dpa-AFX) - Gen Digital Inc. (GEN), a US-based multinational software company, Thursday announced that it has officially completed its acquisition of MoneyLion Inc., marking a major strategic step in enhancing its financial wellness offerings.
The integration is set to bolster Gen's efforts in helping consumers manage both their digital and financial lives securely.
The acquisition was finalized at a price of $82.00 per share in cash, totaling approximately $1 billion. In addition to the cash deal, each MoneyLion shareholder will receive one contingent value right (CVR) per share. This CVR allows for an additional $23.00 in Gen stock if certain performance conditions are met before April 17, 2027, including sustained share price levels or a change in company control. The CVRs will be listed on the Nasdaq.
Vincent Pilette, CEO of Gen, expressed enthusiasm about the merger, highlighting how the combination of Gen's cybersecurity expertise and MoneyLion's financial tools will provide users with more intuitive and comprehensive financial solutions. According to Pilette, this move positions Gen to empower people to make smarter financial choices and foster long-term financial health.
Gen will provide more details on the acquisition and its impact during its Fiscal 2025 Q4 and Full-Year Earnings Call on May 6, 2025. More information can be found at investor.gendigital.com.
GEN is currently trading at $24.4 or 0.41% higher on the Nasdaq Global Select Market.
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