What you need to know
- NortonLifeLock will acquire Avast as part of a merger worth over $8 billion.
- The deal includes NortonLifeLock acquiring all of Avast's shares.
- Following the merger, the combined companies will have over 500 million customers.
NortonLifeLock will acquire Avast as part of a merger valued between $8.1 billion and $8.6 billion. The acquisition combines two of the best antivirus software makers. The deal will see NortonLife purchase all of Avast's shares. The combined companies will have over 500 million customers. By the end of the second year following the merger, NortonLifeLock expects to reach a costs savings of approximately $280 million.
"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. "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."
Avast's chief executive officer, Ondřej Vlček, also shares thoughts on the 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," says Vlček. "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."
Avast shareholders will be entitled to a combination of cash considerations and newly issued shares in NortonLifeLock. People can also choose alternative considerations.