NortonLifeLock will acquire Avast as part of a merger valued between $8.1
billion and $8.6 billion. The acquisition combines two of the best antivirus
software makers. The deal will see NortonLifeLock purchase all of Avast's
shares. The combined companies will have over 500 million customers. By the
end of the second year following the merger, NortonLifeLock expects to reach
a costs savings of approximately $280 million.
"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. "With this combination, we can strengthen our
Cyber Safety platform and make it available to more than 500 million users.
We will also have the ability to further accelerate innovation to transform
Cyber Safety."
Avast's chief executive officer, Ondřej Vlček, also shares thoughts on the
merger. "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.
"Our talented teams will have
better opportunities to innovate and develop enhanced solutions and
services, with improved capabilities from access to superior data insights.
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."
Avast shareholders will be entitled to a combination of cash considerations
and newly issued shares in NortonLifeLock or choose
alternative considerations.
Credit: windowscentral.com
