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Bailey McCann, Opalesque New York:

Hedge fund Elliott Management is a winner in Symantec's $2.3 billion acquisition of LifeLock, an identity protection company. The hedge fund announced a stake in LifeLock in June and has been pushing for some kind of deal with the company, which hasn't offered much in the way of shareholder value.

Elliott Management built up an 11 percent stake in LifeLock, which sold for $24 per share - a premium of just over 40 percent. Elliott also has a small stake in Symantec. Shares of both companies rose on news of the deal.

According to a Wall Street Journal report on the transaction, Symantec plans to keep LifeLock separate from its popular Norton Antivirus software until after the deal closes next year. From there, both services will be integrated.

LifeLock services start at approximately $10 per month for basic identity protection. The company has approximately 4.4 million users.

LifeLock will be part of a growing consumer focused portfolio at Symantec. According to a Reuters report, Private equity firm Silver Lake Partners recently invested in Symantec when the company announced another acquisition earlier this year - Blue Coat, a company which helps companies with cybersecurity. Symantec acquired Blue Coat from Bain Capital, w......................

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