Avast and NortonLifeLock set for $8 billion antivirus mega-merger

Date:
Thu, 15 Jul 2021 13:30:11 +0000

Description:
Two leading security vendors confirm reports of merger talks.

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Two of the world's largest cybersecurity firms have confirmed that they are
in advanced stages of merger talks.

Both Avast and NortonLifeLock released statements confirming their plans, but added there was no certainty that a deal would be agreed.

According to the Wall Street Journal , which first reported the talks, the merger between the Nasdaq-listed Norton, which is the larger of the two,
would value the London-listed Avast at $8 billion. TechRadar needs you!

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In a statement, NortonLifeLock said the deal would bring together two companies with aligned visions. Reuters argues that the combination of the
two vendors would create a clear leader in consumer security software. Sign
of the times

The recent spate of cyber attacks on businesses , along with the shift
towards hybrid work environments, has had a positive impact on the
bottom-line of security companies.

Remote working has spurred demand for Avasts desktop products such as its antivirus software , which has helped the company record a 7.1% organic
growth in adjusted billings to $922 million last year, according to Reuters .

Avasts freemium software reportedly had 435 million active users at the end
of 2020, of which 16.5 million paid for premium add-ons. NortonLifeLock, previously known as Symantec Corp , before it sold its enterprise-security business to Broadcom in 2019, has a wider portfolio of products that also includes identity theft protection services.

Norton has until the second week of August to make its final offer to Avast, adds Reuters . These are the best endpoint protection tools

Via Reuters



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Link to news story: https://www.techradar.com/news/avast-and-nortonlifelock-set-for-dollar8-billio n-antivirus-mega-merger/


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