Security News > 2021 > August > Avast, ye takeover lawyers! Norton LifeLock to acquire security rival

The discussions between security vendors NortonLifelock and Avast that The Register reported had reached an advanced stage in July have proved fruitful, to the tune of more than $8 billion.

While the deal has been styled as a merger, it will see NortonLifelock acquire all Avast shares and result in the combined companies listing on NASDAQ, rather than Avast's current London Stock Exchange home.

A shorter-term incentive, as described in Avast's information for investors [PDF] is that the deal represents a 20.7 per cent premium over its share price.

Avast's CEO Ond?ej Vl?ek is expected to join Norton LifeLock as President and join its board.

Pavel Baudiš, a co-founder and current director of Avast, is expected to become an independent director of Norton LifeLock.

NortonLifeLock and Avast are the top and second-placed players respectively, and will emerge with around 25 per cent of the market.

News URL

https://go.theregister.com/feed/www.theregister.com/2021/08/11/nortonlifelock_to_acquire_avast/