Who Owns Gen Digital Company?

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Who Really Owns Gen Digital?

Understanding a company's ownership is crucial for investors and strategists alike. Gen Digital Inc., a global powerhouse in cybersecurity, has undergone a significant transformation, particularly after the merger of NortonLifeLock and Avast. This article explores the intricate Gen Digital SWOT Analysis, delving into its ownership structure to uncover the key players shaping its future.

From its origins as Symantec Corporation to its current form, the Gen Digital ownership story is one of strategic acquisitions and evolving stakeholder influence. This analysis will dissect the Gen Digital parent company and its major shareholders, providing insights into the forces driving this leading cybersecurity company ownership. Gain a comprehensive understanding of Who owns Gen Digital and how its structure impacts its strategic direction and financial performance.

The story of Gen Digital, a leading cybersecurity company, begins with Symantec Corporation, founded in 1982. This company, which would later evolve into Gen Digital, has a history marked by mergers, acquisitions, and strategic shifts in ownership. Understanding the founders and early ownership provides crucial context for the company's current structure and operations.

Gen Digital's roots trace back to the vision of Gary Hendrix, who established Symantec with a focus on artificial intelligence. The company's early trajectory was shaped by mergers and product innovations, setting the stage for its future in the cybersecurity market. The evolution of ownership and leadership has been pivotal in shaping the company's direction.

Another key element of Gen Digital's portfolio, Avast, was established in 1988. Avast's founders, Eduard Kučera and Pavel Baudiš, played a critical role in the development of the company. The acquisition of Avast by Gen Digital significantly impacted the company's structure and market position.

Key Ownership Details

Gen Digital's structure is the result of a series of strategic moves, including acquisitions and mergers. The company's ownership has evolved significantly over time, reflecting its growth and expansion in the cybersecurity industry. Understanding the ownership structure is essential for anyone looking to analyze the company's performance and strategy. The current ownership structure of Gen Digital is influenced by its history and the acquisitions it has made, such as the acquisition of Avast.

• Gary Hendrix: The founder of Symantec Corporation, the original entity that evolved into Gen Digital.
• Gordon Eubanks: Became CEO after the merger with C&E Software, shaping the company's early direction.
• Eduard Kučera and Pavel Baudiš: Founders of Avast, a critical component of Gen Digital's current portfolio. Pavel Baudiš holds an 8.1% ownership stake in Gen Digital.
• Initial Public Offering (IPO): Symantec had its IPO on NASDAQ as 'SYMC' on June 23, 1989.
• Acquisition of Avast: This acquisition significantly altered Gen Digital's structure and market position.
• The Competitors Landscape of Gen Digital provides a broader view of the competitive environment.

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The journey of Gen Digital, previously known as Symantec, began as a publicly traded company after its IPO on June 23, 1989. The company's ownership structure has seen significant changes over time. A key event was Broadcom's acquisition of Symantec's Enterprise Security software division on August 8, 2019, for $10.7 billion. Following this, the consumer business was rebranded as NortonLifeLock.

The most transformative change occurred with the merger of NortonLifeLock and Avast, finalized in September 2022. This merger created Gen Digital, a major player in the cybersecurity market. This strategic move brought together leading brands like Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner under one umbrella, significantly impacting the Gen Digital ownership structure.

As of March 31, 2025, major institutional shareholders include Vanguard Group Inc. with 70,109,802 shares, BlackRock, Inc. with 54,829,148 shares, and Fmr Llc with 34,353,768 shares. State Street Corp and Ameriprise Financial Inc. also hold substantial stakes. Pavel Baudiš, co-founder of Avast, maintains an 8.1% ownership in the company. The current market capitalization, as of June 13, 2025, is approximately $18.47 billion. The company is focused on reducing its net leverage to below 3x EBITDA by fiscal year 2027. For more insights, you can explore the Growth Strategy of Gen Digital.

Key Takeaways on Gen Digital Ownership

Gen Digital's ownership structure reflects a dynamic evolution, shaped by mergers and acquisitions. The company is primarily held by institutional investors, with insiders holding a smaller percentage. The merger with Avast was a pivotal moment, consolidating its position in the cybersecurity market.

• Institutional investors hold the majority of shares.
• The merger with Avast was a significant event.
• The company is focused on reducing its debt.
• Pavel Baudiš, co-founder of Avast, is a major shareholder.

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As of June 11, 2025, the Board of Directors of Gen Digital Inc. includes Vincent Pilette as CEO, President & Director, and Frank Dangeard as Independent Chairman. Other board members are Nora Denzel, Eric Brandt, Susan Barsamian, Ondrej Vlcek, Pavel Baudis, Sherrese Smith, and Emily Heath, all serving as Independent Directors. John Chrystal joined the Board on May 15, 2025, bringing extensive experience from the financial services industry, particularly from his role as Chairman at MoneyLion Inc. Peter Feld resigned from the Board on May 15, 2025.

The average tenure of the Board members is 5.3 years, indicating a board with significant experience. The composition and leadership of the board are critical for guiding the company's strategic direction. This is especially important as Gen Digital navigates the cybersecurity market and integrates acquisitions like MoneyLion.

The company's common stock is traded on the Nasdaq Global Select Market. As of January 27, 2025, the number of outstanding shares of Gen common stock was 616,301,369. Detailed information on voting rights and share classes can be found in the company's SEC filings, such as the 2024 Annual Report on Form 10-K. Understanding the Gen Digital ownership structure is crucial for investors and stakeholders.

Key Takeaways on Board and Voting

The Board of Directors is composed of experienced individuals, including the CEO and Independent Chairman.

• John Chrystal's recent appointment reflects the company's expansion into financial wellness.
• The average tenure of board members is 5.3 years.
• The company's stock is traded on the Nasdaq.
• Detailed information on voting rights can be found in SEC filings.

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Over the past few years, significant shifts have occurred in the ownership structure and strategic direction of Gen Digital. A notable development was the merger of NortonLifeLock and Avast, which concluded in September 2022, leading to the formation of Gen Digital Inc. This merger expanded the company's portfolio within the consumer cybersecurity market. The company's evolution is a key aspect of understanding the current landscape of Gen Digital's business model and ownership dynamics.

More recently, Gen Digital completed the acquisition of MoneyLion Inc., a digital financial ecosystem, in an all-cash deal valued at $1 billion on April 17, 2025. This acquisition is expected to bolster Gen Digital's market presence and diversify its offerings into financial wellness solutions. The deal, initially announced on December 10, 2024, saw MoneyLion shareholders receiving $82.00 per share, along with a contingent value right (CVR).

In terms of capital allocation, Gen Digital has been actively returning capital to its shareholders. In fiscal year 2024, the company returned over $750 million to shareholders through dividends and share buybacks. The board has expanded its share buyback program to $3 billion. For Q3 fiscal 2025, the company paid $77 million in regular quarterly dividends of $0.125 per common share. Since the beginning of fiscal year 2023, Gen Digital has paid down over $2 billion in debt and deployed $1.6 billion in share repurchases. The company aims to reduce its net debt-to-EBITDA ratio to less than 3 times by fiscal year 2027.

Who Owns Gen Digital?

Gen Digital is a publicly traded company. The majority of Gen Digital's shares are held by institutional investors. The company’s ownership structure includes a mix of institutional investors, mutual funds, and insider holdings.

Recent Acquisitions

The acquisition of MoneyLion in April 2025 for $1 billion is a recent example of Gen Digital's strategic moves. This acquisition is aimed at expanding its financial wellness solutions. The merger with Avast in 2022 was another key event.

Capital Allocation Strategy

Gen Digital actively returns capital to shareholders through dividends and share buybacks. The company has a significant share buyback program. The company focuses on reducing its debt-to-EBITDA ratio.

Financial Performance

The company's revenue for fiscal year 2025 reached a record of $3.81 billion. The company’s strong financial performance is reflected in its strategic decisions. The company is focused on continued growth.

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