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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Business»Norton Acquires Avast in 8.1B Merger Deal

    Norton Acquires Avast in 8.1B Merger Deal

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    By Tapiwa Matthew Mutisi on September 14, 2021 Business, Deals, Merger, Security, Software

    Following on from news of merger talks last month, NortonLifeLock has confirmed that it is buying Avast in a deal that values the Czech-based and London stock exchange-listed firm at up to $8.6bn (£6.2bn). In a joint statement, the companies say that the combined business will serve more than 500 million cybersecurity customers, including around 40 million direct customers.

    Security Firm Avast Says Scam Apps Are Spreading Through TikTok

    Vincent Pilette, Chief Executive Officer of NortonLifeLock said: “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. 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.”

    The deal is seen as an opportunity to create a new, industry-leading consumer cyber safety business, building on the established brands, technology, and innovation of both groups to deliver benefits to consumers, shareholders, and other stakeholders.

    Ondřej Vlček, Chief Executive Officer of Avast said: “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. 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.”

    Google Removes Seven Stalking Apps from the Play Store Identified by Avast

    NortonLifeLock’s Vincent Pilette, will remain CEO, while Avast’s Ondřej Vlček is expected to join NortonLifeLock as president and become a member of the board of directors. Pavel Baudiš, a co-founder and current director of Avast, is also expected to join the NortonLifeLock Board as an independent director. There’s no word on whether the existing brands will continue or whether we’ll see the creation of a Norvast or Avorton.

    Related

    Antivirus Software avast CYbersecurity deals merger NortonLifeLock Security
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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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