GoDaddy surges after Gen Digital makes $12 billion takeover approach
The discussions are at an early stage and may not result in a transaction.
GoDaddy’s shares soared past $109 on Thursday morning on news that Gen Digital, the owner of Norton 360, approached the company with a takeover offer.
The bid, which was reported by the Financial Times, would bring together two established internet brands and expand Gen Digital’s customer reach. Discussions remain preliminary, and the parties have not reached an agreement, according to the report.
The initial offer comes as the cybersecurity company looks to broaden its business into internet services. GoDaddy, which serves more than 20 million small businesses and individuals and manages around 81 million web domains, is valued at over $12 billion, while Gen Digital has a market capitalization of about $15.7 billion.
GoDaddy has faced growing investor concerns over its ability to sustain growth as AI reshapes website creation and digital services.
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The company narrowed its 2026 revenue outlook in July amid slower AI adoption and weaker customer acquisition, while investors continue to assess whether its AI-powered Airo products can increase spending per customer as AI makes website creation cheaper.
Competitive pressure, slower bookings growth linked to promotional pricing and GoDaddy’s removal from the FTSE All-World Index have added to the pressure.