UK green light for Norton takeover of Avast
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The decision of the British competition authority endorses the creation of a global cybersecurity giant.
All indicators were green except one. On Wednesday, the British competition authority (Competition and Markets Authority or CMA) ruled in favor of the takeover of the Czech antivirus company Avast, by its American competitor Norton. A transaction of approximately 8.5 billion dollars in cash and shares, according to the estimated value of the group. Avast’s title soared more than 43.29% on the London Stock Exchange in the middle of Wednesday afternoon.
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This merger will bring together 4,000 employees and reach a market of more than 500 million users worldwide, making the new NortonLifeLock-Avast group the antivirus giant. With the Czech company, Norton acquires an incubator of 1,700 skills and will be able to rely more heavily on research and development.
Very competitive market
The deal to buy Avast was announced in August 2021. At the time, Ondrej Vlcek, CEO of Avast, said the merger would allow both groups to grow further
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