To accelerate innovation and to transform cyber safety, two very famous antivirus programs have decided to merge. NortonLifeLock and Avast are merging in a deal worth more than $8 billion. According to the merger deal, Norton will acquire all shares of Avast and will create a much larger cybersecurity firm.
Pilette, and NortonLifeLock’s CFO, Natalie Derse, will remain in those positions in the combined company. Avast CEO Vlček will join NortonLifeLock as President and will join the Board of Directors. Pavel Baudiš. A co-founder and current director of Avast, is expected to join the Board as an independent director, the companies said.
Norton and Avast Merger – A Leading Step to Transform Consumer Cyber Safety
Vincent Pilette, NortonLifeLock CEO, said,
“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.”
He further revealed,
Based on NortonLifeLock’s closing share price of USD 27.20 on July 13, 2021 (being the last trading day for NortonLifeLock shares before market speculation began in relation to the merger on July 14, 2021, resulting in the commencement of the offer period), the merger values Avast’s entire issued and to be issued ordinary share capital between approximately USD 8.1B and USD 8.6B, depending on Avast shareholders’ elections.
Both companies detail two options for shareholders. Option one is to receive 31% of the deal in cash and 69% in stock, option two is to receive 90% in cash and 10% in the stock
Avast CEO Ondřej Vlček, also said about this 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.”
NortonLifeLock was separated from Symantec in late 2019 when the enterprise security business was purchased by Broadcom. Norton antivirus has existed in various forms since 1991 and has remained a popular option for consumers for 30 years. Avast has also completed its eleven years of serving consumers and small and medium businesses.
Form quite some time, many online platforms are facing different cyber attacks. The data of millions of users on different social media platform like LinkedIn, Yahoo and Facebook have been compromised. Now a days, Ransomware is on the rise. This malware has attacked plenty of users on different platforms. Hackers managed to hide malware in different apps, and consumers are often the victims when databases of credit cards and personal information are leaked.
We are hoping that this merger should lead to a more powerful antivirus product. It will include the benefits of Avast’s focus on privacy and NortonLifeLock’s experience in identity. In this era, when cybersecurity is crucial for both consumers and businesses, this step will surely lead to living a more safe and secure digital life.