These victims spent ~4.4 billion hours trying to restore their identities or resolve other cybercrime-related issues. As such, April 1, 2022, marked the end of FY22.īusiness Model & The Cyber Security MarketĪccording to The Harris Poll, over 415 million people across 10 countries were victims of cybercrime in 2021, with 81 million victims of identity theft. The company operates on a fiscal year (FY) ending on the closest Friday to March 31. Shares of NLOK trade just under $25.00 a share, translating to a market cap of $12.7 billion. The combination was rechristened to its current moniker after Symantec spun out its enterprise division in 2019. LifeLock was founded in 2005 and purchased by Symantec in 2017. Peter Norton Computing was formed in 1982 and acquired by cybersecurity firm Symantec in 1990. The company boasts a consumer cyber safety platform with ~80 million users and 23.5 million direct accounts in more than 150 countries. ( NLOK) is a Tempe, Arizona-based identity theft protection company tasked with preventing, detecting, and restoring potential damages caused by cyber criminals to retail consumers. This is likely to be resolved favorably, and the purchase will create considerable synergies when completed. The stock has taken hit lately as a strategic merger has hit a bit of a snag. Today, we take a look at a fairly well-known company fighting identity theft. Being challenged in life is inevitable, being defeated is optional."― Roger Crawford
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