LONDON – United States cybersecurity giant NortonLifeLock is set to buy Czech rival Avast for over $8 billion (RM33.92 billion), to create a leading consumer business, the pair announced today after the pandemic fuelled online activity.
The deal, equivalent to more than €6.7 billion, “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’s 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”.
More than 500 million users will benefit from the new group’s safety offerings, the statement added.
Pilette was set to become chief executive of the expanded group, while Vlcek is to join NortonLifeLock as president and become a member of the company’s board.
The combined company, to be listed on the Nasdaq stock market index, will be dual-headquartered in Prague and Tempe, Arizona. – AFP, August 11, 2021
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