NortonLifeLock reached a deal to acquire Avast, a provider of digital security and privacy services, in a stock transaction valued at approximately US$8.1 billion and US$8.6 billion, depending on Avast shareholders’ elections.
The companies say the deal will combine “Avast’s strength in privacy and NortonLifeLock’s strength in identity, creating a broad and complementary product portfolio, beyond core security and towards adjacent trust-based solutions”. The merger is expected to result in approximately US$280 million of annual gross cost synergies.
“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,” said 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.”
https://s24.q4cdn.com/151081985/files/doc_presentations/2021/08/Combining-NortonLifeLock-and-Avast-IRDeck-FINAL.pdf
