SurfEasy acquisition to boost Symantec
On November 6, 2017, Symantec (SYMC) announced that it had acquired SurfEasy. SurfEasy is a VPN (virtual private network) provider that provides privacy and security applications on tablets, smartphones, laptops, and desktops.
Symantec bought SurfEasy from Opera Software in an all-cash deal. SurfEasy, one of Opera’s four subsidiaries, had an EV (enterprise value) of $38.5 million, according to a Reuters report.
VPN market set for massive growth
The above presentation by Comparitech shows that SurfEasy ranked among the top ten free VPN services in 2017. Citing Wiseguyreports.com, KTEN reported that the global VPN market was worth $15.6 billion last year. It is expected to grow at a compound annual growth rate of 14.8% to become a $35.7 billion market by the end of 2022.