Avast cybersecurity firm listed in the UK in talks for a merger with NortonLifeLock

Avast cybersecurity firm [News Desk ] : The London-listed cybersecurity company Avast is in advanced discussions Avast is in talks with US competitor NortonLifeLock Inc about a merger which would result in a clear leading security product for the consumer.

 

Avast cybersecurity firm listed in the UK in talks for a merger with NortonLifeLock

 

[ Avast cybersecurity firm listed in the UK in talks for a merger with NortonLifeLock ]

 

Avast Software s.r.o. is a Czech multinational cybersecurity software company headquartered in Prague, Czech Republic that researches and develops computer security software, machine learning and artificial intelligence. Avast has more than 435 million monthly active users and the second largest market share among anti-malware application vendors worldwide as of April 2020. The company has approximately 1,700 employees across its 25 offices worldwide.

Both companies confirmed talks on Wednesday night The talks were confirmed late on Wednesday, with Avast declaring that the deal would be made both in cash and shares but it also said there was no guarantee that the deal would be reached.

Avast was established in and is headquartered within Prague, Czech Republic, is a pioneer in “freemium” software, whereby basic programs are available for free, while users are charged extra features.

This Avast and AVG Mobile and desktop software was home to over 435 million users active as of close of 2020. from which 16.5 million pay.

The shift towards home-based work during Covid-19 led to increased demand for desktop software, including antivirus software. The company reported 7.1 percent organic growth in adjusted billings , reaching $922 million in fiscal year 2003.

 

Avast cybersecurity firm listed in the UK in talks for a merger with NortonLifeLock

 

Avast shares Avast, which was listed in London in the year 2018 were trading up 13 cent to 570 pence at 0856 GMT The company has an estimated market capitalization in the region of 5.87 billion pounds ($8.11 billion) according to Refinitiv’s information.

The founders of the company, Pavel Baudis and Eduard Kucera have a total of 35 percent.

The Wall Street Journal, who first reported on the talks, reported that the potential value of the deal was Avast at over $8 billion.

Analysts at Berenberg However, Berenberg analysts said “nothing short of a $10 billion valuation is fair to Avast’s shareholders”.

 

Avast cybersecurity firm listed in the UK in talks for a merger with NortonLifeLock

 

A series of cyberattacks have boosted valuations, they claimed in addition to private equity and large corporations trying to compete for bids and increase deal prices, they went up, too.

Tempe Arizona-based NortonLifeLock announced a partnership that will bring the “two companies with aligned visions”.

NortonLifeLock was before called Symantec Corp, before it sold its security-related company to Broadcom in the year 2019.

It currently sells Norton antivirus software and LifeLock identity-theft-protection products for home and work use. In accordance with UK rules for takeovers Avast must wait until August 11 to submit a definitive offer to acquire Avast.

 

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