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. Under the terms of the merger Avast shareholders will be entitled to receive a combination of cash consideration and newly issued shares in NortonLifeLock with. "Our talented teams will have better opportunities to innovate and develop enhanced solutions and services, with improved capabilities from access to superior data insights. On a provisional basis, shareholders holding 36.505 of the Avast shares elected the Majority Stock Option comprising 0.1937 new NortonLifeLock shares and 2.37 in cash per Avast share, with the. cybersecurity company access to one of the biggest customer bases in. "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," says Vlček. 15, 2021 /PRNewswire/ - NortonLifeLock (NASDAQ: NLOK ), a global leader in consumer Cyber Safety, today announced the expiration of the waiting period under the U.S. is set to buy Avast Plc in a deal valued at as much as 8.6 billion, giving the U.S. We will also have the ability to further accelerate innovation to transform Cyber Safety."Īvast's chief executive officer, Ondřej Vlček, also shares thoughts on the merger. ![]() "With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users. NortonLifeLock, formed in 2019 as a spin-off from Symantec, says the deal will create an industry-leading consumer cyber safety business, unlock approximately 280 million of annual gross cost. Avast reported an $893 million revenue in 2020."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," says Vincent Pilette, chief executive officer of NortonLifeLock. Under the terms of the deal, Avast shareholders will receive a combination of cash and newly issued shares in NortonLifeLock. CVC Capital Partners held 23% of the company shares when it went public. The company went public in 2018 on the London stock exchange after changing its name to Avast in 2010. The company was founded by Pavel Baudiš and Eduard Kucera in 1988 as Alwil and the duo holds 35% of the company's stake. We will also have the ability to further accelerate innovation to transform Cyber Safety."Īccording to Avast, it has more than 435 million users currently. (NASDAQ: NLOK) is a global leader in consumer Cyber Safety, protecting and empowering people to live their digital lives safely. The U.K.’s Competition and Markets Authority (CMA) has formally cleared the proposed 8. NortonLifeLock, a cybersecurity firm based in Tempe, has hit a potential snag with its 8 billion plan to buy competitor Avast after British regulators said they might. ![]() "With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users. ![]() "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. The boards of NortonLifeLock and Avast believe that the merger has compelling strategic and financial rationale and represents an attractive opportunity to create a new, industry-leading consumer Cyber Safety business, leveraging the established brands, technology and innovation of both groups to deliver substantial benefits to consumers, shareholders, and other stakeholders. The U.K.’s Competition and Markets Authority (CMA) has provisionally greenlighted the proposed 8.1 billion merger of cybersecurity companies NortonLifeLock and Avast, with Microsoft emerging. The acquisition combines two of the best antivirus software makers. Based on NortonLifeLock's closing share price of $27.20 on July 13, 2021, the merger values Avast's share capital between about $8.1 billion and $8.6 billion. NortonLifeLock will acquire Avast as part of a merger valued between 8.1 billion and 8.6 billion.
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