US cyber security giant NortonLifeLock is to buy Czech rival Avast for over $8 billion to create a leading consumer business, the pair announced Wednesday after the pandemic fuelled online activity. The deal, equivalent to more than 6.7 billion euros, "is a huge step forward for consumer cyber safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely", Norton chief executive Vincent Pilette said in a joint statement.
Ondrej Vlcek, chief executive of London-listed Avast, said that amid increasing global cyber threats, the tie-up would allow for "enhanced solutions and services, with improved capabilities". "At a time when global cyber threats are growing, yet cyber safety penetration remains very low, together with NortonLifeLock, we will be able to accelerate our shared vision of providing holistic cyber protection for consumers around the globe," Vlcek added Wednesday. More than 500 million users will benefit from the new group's safety offerings, the statement added.
The combined company, to be listed on the Nasdaq, will be dual headquartered in Prague and Tempe, Arizona.
https://techxplore.com/news/2021-08-cyber-firm-norton-avast-bn.html
Ondrej Vlcek, chief executive of London-listed Avast, said that amid increasing global cyber threats, the tie-up would allow for "enhanced solutions and services, with improved capabilities". "At a time when global cyber threats are growing, yet cyber safety penetration remains very low, together with NortonLifeLock, we will be able to accelerate our shared vision of providing holistic cyber protection for consumers around the globe," Vlcek added Wednesday. More than 500 million users will benefit from the new group's safety offerings, the statement added.
The combined company, to be listed on the Nasdaq, will be dual headquartered in Prague and Tempe, Arizona.
https://techxplore.com/news/2021-08-cyber-firm-norton-avast-bn.html
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