Gen Digital, the cybersecurity firm best known for its Norton antivirus software, has launched an unsolicited takeover bid for GoDaddy, the prominent web hosting and domain registration company. According to a report by the Financial Times, the offer values the Scottsdale, Arizona-based website platform at approximately $11 billion.
The acquisition would represent a significant expansion for Gen Digital, which was established in 2024 through the merger of Symantec’s consumer business with AVG Technologies. Taking control of GoDaddy would allow Gen Digital to broaden its portfolio beyond security tools into the web services market.
GoDaddy’s leadership has rejected the proposal, viewing it as severely undervaluing the company. In response, GoDaddy’s board has engaged Evercore to explore potential alternatives, including the possibility of seeking other interested buyers.
Financial details shared in the report indicate that the all-cash proposal would result in GoDaddy shareholders receiving $39.75 per share. This price point represents a premium of roughly 35 percent over GoDaddy’s closing stock price prior to the report’s publication.
Wait, was Gen Digital really just formed in 2024? This merger strategy is aggressive. Exciting times or scary?
Interesting move for Gen Digital to expand beyond security. Do we really need another mega-conglomerate in web hosting?
Thirty-five percent premium is huge! Why is the board rejecting it? They must think they can get even more.
Norton owning your domain feels like a creepy surveillance combo. Hope GoDaddy holds firm against this bundle.