NortonLifeLock all set to acquire Avast
NortonLifeLock has displayed its consent on acquiring Avast against cash and stock where the deal is valued between $8.1 billion and $8.6 billion. The terms of the merger state that along with cash consideration, Avast’s shareholders would receive newly issued shares of NortonLifeLock.
Vincent Pilette, the CEO of NortonLifeLock, claims this transaction to be a positive measure taken for the cybersecurity of consumers. This will empower them to move a step ahead in their vision to help people survive in the digital era with ease. Pillette also added that this relationship would help them strengthen their platform and make it accessible to over 500 million users. Moreover, it will grant them the ability to incorporate innovative practices in their cyber safety routine.
To gain an insight into acquisitions in cybersecurity, also read Deloitte announces cybersecurity acquisition to incorporate expert strategies in this field.
NortonLifeLock is an American software company headquartered in Tempe, Arizona. The company provides cybersecurity software and services, helping their users in securing devices and identities along with maintaining their privacy online.
Agreeing to Pilette’s comments, Ondrej Vlcek, the CEO of Avast, states that at this time, when cyber threats are at their peak, the association with NortonLifeLock will enable them to expedite their shared vision of a cyber protection environment for consumers all around the world.
Avast Software, the cybersecurity software company, researches and develops solutions in the field of security software, machine learning, and artificial intelligence.
The union of these two major market players is a roadway to further improve the financial profile of the company. Once things get finalized, Pilette will serve as the CEO of the company, and Vlcek will be a part of NortonLifeLock as a president and a member of the board of directors.