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.”įor quite some time, many online platforms have been facing various cyber threats and cyberattacks. “Our talented teams will have better opportunities to innovate and develop enhanced solutions and services, with improved capabilities from access to superior data insights. “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. Ondřej Vlček, Chief Executive Officer of Avast said: We will also have the ability to further accelerate innovation to transform cyber safety.” 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. Vincent Pilette, NortonLifeLock CEO, said: The new company, which has not been named, will serve over 500 million users, including 40 million direct customers. The agreement comes nearly one month after both companies provided confirmation they were discussing a possible merger of both companies, which are publicly listed.Īccording to the terms of the merger deal, Avast shareholders will receive a combination of cash consideration and newly issued shares in NortonLifeLock. ”Based on NortonLifeLock’s closing share price of USD 27.20 on J(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.” The combination of Avast’s product line with the power of LifeLock personal monitoring is a great combination for the channel”, said Michael Goldstein of LAN Infotech. According to reports, Norton will acquire all shares of Avast and will create a larger cybersecurity firm. “In addition, applications recently launched by Microsoft for its customers bring its cyber safety offering closer to those of the merging businesses and are likely to further strengthen Microsoft as a competitor going forward.NortonLifeLock( one of the global leaders in cyber safety) and Avast (one of the global leaders in digital security and privacy) recently announced that they have reached an agreement on the terms of a merger worth more than $8 billion. “In recent years, Microsoft has improved its built-in, bundled security application so that it now offers protection which is as good as many of the products offered by specialist suppliers,” the CMA wrote in its final assessment today.
Indeed, Microsoft has been bolstering its Defender-branded security offerings for consumers and enterprises alike - earlier this summer, the company launched Microsoft Defender for Individuals across all major desktop and mobile platforms, while it also launched a standalone version of Microsoft Defender for Business.Īccording to the CMA, these products - along with services from long-standing rivals such as McAfee - means that everyone has become less reliant on NortonLifeLock or Avast. Last month however, the CMA took a somewhat different tone, stating that the merger didn’t, in fact, raise competition issues in the U.K., citing Microsoft’s growing array of cybersecurity products as one reason. And this is true, as both companies are leading cybersecurity players, with products spanning antivirus, identity protection, VPNs and more.
The CMA revealed in March that it was launching an investigation, stating that combining two closely-aligned, market-leading rivals raised significant competition concerns.
The merger has been hanging in the balance since plans were first revealed last August. The U.K.’s Competition and Markets Authority (CMA) has formally cleared the proposed $8.1 billion merger between cybersecurity giants NortonLifeLock and Avast, a month after provisionally greenlighting the deal.
0 kommentar(er)
