12 August 2021

Antivirus news: NortonLifeLock and Avast PLC to merge in $8.4 billion transaction

Antivirus vendor NortonLifeLock this afternoon said it will merge with Britain's Avast PLC in a transaction combining cash and stock in two different options, totalling between $8.1 billion and $8.6 billion in stock.

That value is roughly equivalent to the value in U.S. dollars of Avast's enterprise value, which takes into account its cash and debt, of £6.5 billion, based on the closing price of Avast stock tuesday of £5.68 on the London Stock Exchange. NortonLifeLock shares rose 2.5% in late trading.

The two companies said in the joint press release that their respective boards of directors see an opportunity to "create a new, industry-leading consumer Cyber Safety business, leveraging the established brands, technology and innovation of both groups to deliver substantial benefits to consumers, shareholders, and other stakeholders."


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