Dec 10 (Reuters) - Norton and Avast owner Gen Digital ( GEN )

has agreed to buy fintech firm MoneyLion ( ML ) in an

all-cash deal valued at about $1 billion to beef up its consumer

finance offerings, the companies said on Thursday.

Gen Digital ( GEN ) will pay $82 for each MoneyLion ( ML ) share, a 6.5%

premium to MoneyLion's ( ML ) last closing price.

Additionally, MoneyLion ( ML ) shareholders will receive one

contingent value right per share, entitling them to $23 in Gen

Digital ( GEN ) common shares, subject to Gen Digital's ( GEN ) future stock

performance.

The acquisition will expand Gen Digital's ( GEN ) financial wellness

offerings by leveraging MoneyLion's ( ML ) personal finance platform,

which boasts over 18 million users and provides credit-building

and financial management services, the companies said.

Gen Digital's ( GEN ) existing financial service helps financial

institutions reduce fraud expenses by integrating cyber safety

solutions that enhance customer data protection online.

The cybersecurity firm, which offers consolidated platforms

for a subscription fee, has benefited from businesses increasing

their focus on data and enterprise protection, especially as

they integrate generative AI technology into their operations.

The deal is expected to close in the first half of Gen

Digital's ( GEN ) fiscal year 2026 and will boost the company's adjusted

per-share profit.