Gen Digital has announced plans to acquire MoneyLion, a financial services marketplace, in a US$1 billion deal.

The acquisition price includes US$82 per share in cash, with an additional contingent value right (CVR) offering shareholders up to US$23 per share in Gen common stock if specific performance conditions are met.

The acquisition will expand Gen’s offerings by integrating MoneyLion’s financial management tools with its identity and credit protection services.

MoneyLion’s platform, which includes credit-building features, will enhance Gen’s financial wellness solutions.

The deal also brings MoneyLion’s white-labeled AI recommendation platform, which Gen plans to enhance for its global consumer base.

With over 18 million customers, MoneyLion’s addition will diversify Gen’s customer base and strengthen its “top of funnel” for credit and identity protection services.

The transaction, approved by both companies’ boards, is expected to close in the first half of Gen’s fiscal year 2026, subject to regulatory approvals

“Gen has a family of consumer brands that’s dedicated to protecting people’s privacy, identity and financial assets so they can live their digital lives securely and without worry.

By bringing MoneyLion into the Gen family, we’re not only helping people protect what they already have, we’re extending our capabilities to enable people to better manage and grow their financial wealth.”

said Vincent Pilette, CEO of Gen.

“Joining Gen accelerates our vision by leveraging their global reach, trusted brands, and powerful ecosystem. We’ll deliver MoneyLion’s leading personal financial management tools and embedded financial marketplaces to Gen’s users while bringing Gen’s strong identity, trust and cybersecurity solutions to our customers.

Together, we’ll create unmatched consumer value, combining innovative fintech products and experiences with Gen’s trusted network to empower smarter financial decisions and secure people’s digital and financial lives.”

said Dee Choubey, Co-Founder and CEO of MoneyLion.

MoneyLion previously held a 10% equity stake in an Islamic digital bank consortium in Malaysia alongside AEON Credit and AEON Financial Service.

The company exited the consortium before AEON Bank launched in May 2024 as Malaysia’s first Islamic digital bank.

Featured image credit: Edited from Freepik