Gen Digital Makes Preliminary Takeover Offer for GoDaddy

Cybersecurity firm Gen Digital, the parent company of Norton, has made a preliminary takeover offer for GoDaddy Inc. The proposed acquisition is intended to integrate Gen Digital's security and privacy products directly into GoDaddy's web infrastructure.

If successful, the deal would give Gen Digital access to GoDaddy's management of approximately 81 million web domains and a customer base exceeding 20 million small businesses and entrepreneurs. Market reactions were immediate following the report, with GoDaddy shares rising 11% and Gen Digital shares falling 7%.

Discussions remain in the early stages, and the companies have not reached an agreement or disclosed any financial terms. At the time of the report, GoDaddy held a market value of approximately $12.2 billion, while Gen Digital was valued at about $15.7 billion.