Norton and Avast Merge Worth Over $8 Billion

Earlier this week, cybersecurity giant NortonLifeLock announced that it is acquiring one of its biggest rivals – Avast, in a deal worth over $8 billion.

The Deal

Norton is set to acquire all of Avast’s shares. The latter’s shareholders can get cash consideration and newly issued shares in NortonLifeLock. They will also have alternative consideration elections available.  

The deal is worth between $8.1 and $8.6 billion.

“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,” announced Ondřej Vlček – the Chief Executive Officer of Avast.

The move has several huge benefits. 

First, the platform will be available to more than 500 million users worldwide.

Secondly, it will begin to expand into the SOHO / VSB segments.

It will also bring huge financial profits.

The Team

Vincent Pilette, NortonLifeLock’s CEO, will retain his role. 

Natalie Derse is also keeping her position as CFO.

Ondřej Vlček will become President of NortonLifeLock and become a member of the Board of Directors.

The co-founder and current director of Avast, Pavel Baudiš will also join as an independent director.

The Companies

NortonLifeLock, formerly known as Symantec Corporation, has been around since 1982. Its HQ is in Tempe, Arizona, United States. It has a wide variety of features, covering everything from dark web monitoring to parental control and ID theft protection.

Avast is a Czech antivirus software company. It has also been on the market for quite a while – since 1988. Features include ransomware protection and data shredder, among others.

This is not the first merge of cybersecurity giants. Earlier this year, Avira and BullGuard also joined the NortonLifeLock family.

ABOUT AUTHOR

Devoted my whole life to words - reading, writing and trying to be original on social media. Got certified in digital marketing - still not cool enough to be an influencer. Finished a master’s degree focused in Literature, Publishing, Mass Media. Hobbies include traveling, reading and hoping that yoga will be the thing to finally teach me some patience. Would like to take over the world at some point, but that’s an optional dream. Maybe modern tech can help me do that?

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