Norton Maker Gen Digital Makes Takeover Play For GoDaddy: Report

GoDaddy Inc. (NYSE:GDDY) stock rose Thursday after reports that Gen Digital Inc. (NASDAQ:GEN), the maker of Norton antivirus software, has approached the web domain provider about a potential takeover.The talks are at an early stage, and there is no guarantee they will lead to a deal, the Financial Times reported, citing people familiar with the matter. Gen Digital reportedly made its initial offer in recent weeks.Gen Digital reported $564 million in cash, cash equivalents and restricted cash as of July 3, 2026, the end of its fiscal first quarter.The reported offer’s financial terms were not disclosed. At last check Thursday, GoDaddy stock rose 5.09%, while Gen Digital shares fell 9.17% following the report.Gen Digital Looks Beyond CybersecurityGen Digital owns several consumer-focused brands, including Norton, LifeLock, CCleaner and ReputationDefender. It has also expanded outside cybersecurity. Last year, Gen Digital acquired fintech lender MoneyLion in a deal valued at about $1 billion, the report said.A GoDaddy acquisition would mark a much larger strategic shift. The companies have similar market values, making any potential transaction significant for Gen Digital.According to Benzinga Pro, Gen Digital had a market capitalization of about $15.7 billion at the previous close, compared with GoDaddy’s roughly $12.8 billion, underscoring the size of a potential transaction relative to the buyer.A deal would give Gen Digital access to GoDaddy’s customer base of more than 20 million small businesses and individuals. GoDaddy manages about 81 million web domains, or roughly one-fifth of registered domains worldwide, according to the report.GoDaddy stock remains down 29.57% over the past 12 months. The company has faced concerns that AI-powered website tools could pressure its core business, according to the report.Price Action: Gen Digital shares were down 9.17% at $23.82 and GoDaddy shares were up 5.09% at $101.29 at the time of publication on Thursday, according to Benzinga Pro data.Image via Shutterstock Read Also: EXCLUSIVE: AI Has A Blind Spot, Here Are 3 Overlooked Stocks