NortonLifeLock to buy Avast at $7.2 billion
The well-known security software developer NortonLifeLock is currently considering a merger with Avast, which is an established security software manufacturer from the Czech Republic headquartered in the UK.
Norton was originally a subsidiary of Symantec, a well-known security software developer. After Symantec’s reputation went bankrupt, the company sold most of its business to other peers.
The retained Norton was later renamed NortonLifeLock. Now NortonLifeLock is considering merging with Avast in order to better participate in market competition.
According to the Wall Street Journal, Norton has contacted Avast to discuss merger-related matters. The current market value of Avast listed in London is approximately $7.2 billion.
In addition to acquiring AVG and other security software, Avast has also acquired CCleaner in these years. However, Avast is currently mainly engaged in consumer-related businesses.
Norton, which was retained after Symantec sold its corporate security business to Broadcom, mainly sells Norton antivirus software and anti-theft related products to consumers and enterprises.
If the merger is successful, Norton can expand its consumer security software business. Norton itself can focus on consumer network security and provide security services for enterprises.
Avast issued a response saying that it has indeed contacted Norton, and if an agreement is reached, it will use cash plus stocks, but no agreement has been reached yet.