The UK’s Competition and Markets Authority (CMA) has announced that NortonLifeLock’s proposed acquisition of Avast is going to get put under its antitrust microscope.
For those who came in late, NortonLifeLock announced last year that it was to acquire LSE-listed cybersecurity vendor Avast for as much as $8.6 billion in a deal that it claimed would create an “industry-leading” consumer cybersecurity business.
But the CMA revealed in January of this year that it had launched an inquiry into the merger before stating earlier this month that the deal “may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom”.
It warned that a phase two investigation may take place should the parties not offer “acceptable undertakings” to address the concerns and has now confirmed that an in-depth investigation will take place.
“The CMA has referred the anticipated acquisition by NortonLifeLock Inc. of Avast plc for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom”, the body said in a statement.
