One of the options being considered is a combination with the consumer business of McAfee, the California-based company which is owned by Intel Corp and private-equity firms TPG Capital and Thoma Bravo LLC, WSJ said.
NortonLifeLock did not immediately respond to a Reuters' request for comment.
McAfee, Permira and Advent declined to comment on the WSJ report.
(Reporting by Rishika Chatterjee in Bengaluru; editing by Uttaresh.V)