By Kiel Porter and Alex Sherman | Bloomberg
LifeLock Inc., the provider of identity-theft protection services, is in talks with several parties about being taken private, people familiar with the matter said.
Final bids for the company are due this month and could value LifeLock at about $2 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Buyout firm TPG is among potential suitors, two of the people said.
“While I don’t know the specific reasons behind LifeLock’s choice to shop the company, generally going private allows management to avoid costly and time-consuming public company regulations (particularly Sarbanes-Oxley compliance) and to shift its focus away from short-term quarterly earnings management to longer term growth initiatives.”
~ Carey Herbert