Tag: NortonLifeLock

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”. Read more…

NortonLifeLock has confirmed it is buying Avast for as much as $8.6 billion as part of its cunning plan to create an “industry-leading” consumer cybersecurity business.

The transaction, made up of a combination of cash and new shares, will value LSE-listed Avast at between $8.1bn and $8.6 billion.

The deal represents a 20.7 percent premium on Avast’s closing price of 504.2 pence per share as of 14 July 2021.

Once the acquisition closes, the combined business will be listed the Nasdaq exchange and be headquartered in Tempe, Arizona and Prague in Czech Republic.

Avast’s chief executive Ondrej Vlcek will join NortonLifeLock’s board and will be appointed president of the combined business while NortonLifeLock CEO Vincent Pilette will become chief executive of the combined business. Read more…