Lookout Announces the Successful Divestiture of Its Consumer Mobile Security Business Segment
Lookout, Inc., the endpoint-to-cloud security company, today announced it has closed the previously announced sale of its consumer mobile security business to F-Secure, a global provider of consumer security products and services. With this strategic divestiture Lookout will focus on expanding its core enterprise business, built around the Lookout Cloud Security Platform.
The sale of Lookout's consumer mobile security business represents a deliberate and strategic decision to optimize its enterprise product portfolio and concentrate its product innovation and go-to-market on the expansion of these core competencies. The divestiture sets Lookout up for long-term growth and further positions the Company to address the security transformation impacting organizations today, including the increase in remote work, the shift to cloud-based delivery models and the transition to zero trust architectures.
"We are pleased to announce the successful divestiture of our mobile consumer security business, which represents a significant milestone in our strategic transformation to become a pure-play enterprise cybersecurity company," Jim Dolce, CEO at Lookout. "With this refined focus, we will continue to drive innovation, invest in the development of cutting-edge solutions and drive greater value for our customers."
Lookout's core enterprise business includes Lookout Mobile Endpoint Security and its security services edge (SSE) cloud-native solution, the Lookout Cloud Security Platform. The Company entered the cloud security market through its acquisition of CipherCloud in March 2021. Its Cloud Security Platform was recently scored among the highest three vendors in the 2023 Gartner Critical Capabilities for Security Service Edge (SSE)1 report in each of the four use cases. The Gartner Critical Capabilities for SSE - an essential companion to the Gartner Magic Quadrant™ for SSE2 in which Lookout was named a Visionary for the second year in a row - is a comparative analysis that scores products or services against a set of critical differentiators that every business needs, as identified by Gartner. These four use cases include Secure Web and Cloud Usage, Detect and Mitigate Threats, Connect and Secure Remote Workers and Identify and Protect Sensitive Information.
As part of the sale agreement, F-Secure acquires all of the Lookout consumer mobile security products and technology and assumes all responsibility for ongoing operations and customer relationships. Additionally, the Company's consumer employees will become part of F-Secure.
Lookout, Inc. is the endpoint-to-cloud cybersecurity company that delivers zero trust security by reducing risk and protecting data wherever it goes, without boundaries or limits. Our unified, cloud-native platform safeguards digital information across devices, apps, networks and clouds and is as fluid and flexible as the modern digital world. Lookout is trusted by enterprises and government agencies of all sizes to protect the sensitive data they care about most, enabling them to work and connect freely and safely. To learn more about the Lookout Cloud Security Platform, visit www.lookout.com and follow Lookout on our blog, LinkedIn and Twitter.
© 2023 Lookout, Inc. LOOKOUT®, the Lookout Shield Design®, LOOKOUT with Shield Design®, and SIGNAL FLARE® are registered trademarks of Lookout, Inc. in the United States and other countries. DAY OF SHECURITY®, LOOKOUT MOBILE SECURITY®, and POWERED BY LOOKOUT® are registered trademarks of Lookout, Inc. in the United States. Lookout, Inc. maintains common law trademark rights in EVERYTHING IS OK, PROTECTED BY LOOKOUT, CIPHERCLOUD, SCREAM, the 4 Bar Shield Design, and the Lookout multi-color/multi-shaded Wingspan design.
1Gartner, "Magic Quadrant for Security Service Edge," Charlie Winckless, Aaron McQuaid, John Watts, Craig Lawson, Thomas Lintemuth, Dale Koeppen, April 10, 2023
Day 1 Internet Access for Retail IoT Solutions
Metaverse Standards Forum - Ask Me Anything Panel
Solutions Showcase Session