Behold! Two cybersecurity giants are set to join forces against cybercriminals!
NortonLifeLock and Avast, two companies famous for their security software and antivirus, are merging in a deal worth more than $8 billion.
As part of the deal, Norton will acquire all the shares of Avast and build a massive cybersecurity empire.
“This transaction is a huge step forward for customer cyber safety and will ultimately enable us to achieve our vision to protect and empower to live their digital lives safely,” says Vincent Pilette, CEO of NortonLifeLock.
With the merger in place, the companies will have more than 500 million users!
“With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users. We all have the ability to further accelerate innovation to transform Cyber Safety,” says Pilette.
Announcement: The boards of @NortonLifeLock and @Avast_Antivirus are excited to report that they have reached agreement on the terms of a proposed merger between the two companies. Read more here: https://t.co/ZU1WzeGm3q
— Avast (@avast_antivirus) August 10, 2021
Ondřej Vlček, Avast’s chief executive officer, also shares his two cents on the merger. “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, says Vlček.
This merger could usher in an era of more advanced cybersecurity, with antivirus products consisting of Avast’s vision of online privacy and Norton’s expertise in identity. This is particularly fundamental in today’s world, where cybersecurity is critical for both businesses and consumers.
In fact, there has been a drastic rise seen in ransomware attacks, with new high-profile cases making the news every week. Just recently, Gigabyte suffered a massive ransomware attack, resulting in several sensitive documents being compromised. Last month, Kaseya’s remote IT management software was also affected by a major ransomware attack.
Founded in the Czech Republic, Avast has been producing a number of antivirus and security products, including a computer clean-up program, VPN and anti-tracking software for windows and Mac users. NortonLifeLock offers similar perks, including identity theft protection, VPN and cloud storage. The company has been introducing various form of antivirus for 30 years.
The companies didn’t disclose when they expect to finalize the deal. However, they are optimistic about the prospect of forming an alliance. According to expert predictions, NortonLifeLock is expected to hit a costs savings of around $280million.