NortonLifeLock, world leader in consumer cybersecurityannounced that it has received interim approval of the UK Competition and Markets Authority to acquire the Czech company avast, which is very popular for giving life to an antivirus with the same name. Exact: “The Virus Database has been Updated”.
“We are excited to begin the process of bringing our two companies together now that the CMA has approved our merger with Avast,” said Vincent Pilette, CEO of NortonLifeLock.
“With this key milestone behind us, we look forward to driving innovation and taking cybersecurity to the next level.”
Avast and NortonLifeLock closer than ever
It must be remembered that the acquisition announcement was made almost a year ago, on August 11, where NortonLifelock announced the acquisition of Avast for a price of 8,000 million dollarsabout 6,800 million euros to change.
This price was taken from an incentive of 20.7% on the price of each share of the company, and the result will be the merger of both companies into a company specialized in cybersecurity.
“Combined, we have roughly just under 5,000 employees and we will be running the business going forward with around 4,000,” said Avast CEO Ondrej Vlcek. The cuts would affect both companies and would apply to all geographies.
“With this combination, we can strengthen our cybersecurity platform and make it available to more than 500 million users,” said Vincent Pilette, CEO of NortonLifeLock, in a statement.
NortonLifeLock took advantage of the announcement to also announce its financial results
The company announced that it closed the Second Quarter of the year (Q2 2022) with revenue of $707 millionwhat represents 3% growth compared to the same period last year (Q1 2021). Seeing how the current market is, they should be happy that their income has not been reduced.
“The first quarter was another quarter of strong execution by our team, and in the face of macroeconomic headwinds, we delivered our 12th consecutive quarter of booking growth,” said Natalie Derse, CFO of NortonLifeLock.
“Now, with the Avast acquisition provisionally approved, we look forward to bringing our operational discipline to integration planning and quickly laying the company’s foundation for growth.”