The deal, which has been confirmed just weeks after NortonLifeLock bought free antivirus provider Avira for £360 million, is expected to close in mid-2022. Consumer Antivirus Firms NortonLifeLock and Avast to Merge in 8.6 Billion Deal Consumer cybersecurity firms NortonLifeLock (NASDAQ: NLOK) and Prague-based Avast announced on Tuesday that the two firms have agreed to merge in a deal valued between roughly 8.1-8.6 billion. The final name of the merged company has yet to be determined, but NortonLifeLock has confirmed it will be dual headquartered in the Czech Republic and Tempe, Arizona, and will seek to cut its number of employees from 5,000 workers to around 4,000 over the next two years. The combined company will be listed on the Nasdaq, rather than Avast’s current London Stock Exchange home. “Through our well-established brands, greater geographic diversification and access to a larger global user base, the combined businesses will be poised to access the significant growth opportunity that exists worldwide.” “Our talented teams will have better opportunities to innovate and develop enhanced solutions and services, with improved capabilities from access to superior data insights,” Vlcek said. Once NortonLifeLock’s acquisition of the company is complete, Pilette will remain CEO of the new business, while Avast CEO Ondrej Vlcek will become president and join the board, the companies said.
This transaction is a huge step forward for.
#Nortonlifelock avast 8.1b software#
However, the company has not been without controversy during its near-25-year history Avast was forced to shut down its marketing technology subsidiary Jumpshot last year after it was found to be peddling web browsing data that could be linked to individual users. Avast, a renowned company known for its popular antivirus software, provides the Avast SecureLine VPN service, which is a virtual private network. cybersecurity firm NortonLifeLock has confirmed it is acquiring British rival Avast in order to create a global consumer security powerhouse. Remote working (opens in new tab) has spurred demand for Avast’s desktop products such as its antivirus software (opens in new tab), which has helped the company record a 7.1 organic growth in.
Both have antivirus and VPN products at the forefront of their offerings, but there. Avast, based in Prague, and NortonLifeLock, based in Tempe, Ariz., are competitors in the consumer antivirus industry. “This transaction is a huge step forward for consumer cyber safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely.”Īvast, founded in 1988, focuses on cybersecurity software for consumers and small and medium-sized businesses and describes itself as one of the largest security companies. NortonLifeLock Agrees to Buy Cybersecurity Provider Avast Companies put value of stock-and-cash deal at 8.1 billion to 8. NortonLifeLock is planning to merge with Avast in a deal worth more than 8 billion, the enterprises announced Tuesday. “With this combination, we can strengthen our cyber safety platform and make it available to more than 500 million users,” NortonLifeLock CEO Vincent Pilette said in a statement. Through our well-established brands, greater geographic diversification and access to a larger global user base, the combined businesses will be poised to access the significant growth opportunity that exists worldwide.To guard against data loss and misuse, the cybersecurity conversation must evolve "Our talented teams will have better opportunities to innovate and develop enhanced solutions and services, with improved capabilities from access to superior data insights. "At a time when global cyber threats are growing, yet cyber safety penetration remains very low, together with NortonLifeLock, we will be able to accelerate our shared vision of providing holistic cyber protection for consumers around the globe," says Vlček. We will also have the ability to further accelerate innovation to transform Cyber Safety."Īvast's chief executive officer, Ondřej Vlček, also shares thoughts on the merger. "With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users. "This transaction is a huge step forward for consumer Cyber Safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely," says Vincent Pilette, chief executive officer of NortonLifeLock.
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