Avast Software to acquire anti virus maker AVG for $1.3 billion


AVG logo

 

Avast Software has announced that it has agreed to acquire popular anti virus maker AVG Technologies for $1.3 billion in cash. The deal will allow Avast to expand its business across the globe in the core business and new innovations in emerging markets, such as security for IoT devices.

Avast said it will pay $25 per AVG share, representing a 33 percent premium to AVG stock’s closing price. The company provides free and paid software for personal computers and mobile devices to businesses and individuals, has more than 230 million users worldwide.

Avast notes that the combined user-base of the two companies will result in an entity with a network of more than 400 million endpoints, of which 160 million are mobile.

Gary Kovacs, chief executive officer, AVG said,

 Our new scale will allow us to accelerate investments in growing markets and continue to focus on providing comprehensive and simple-to-use solutions for consumers and businesses alike. As the definition of online security continues to shift from being device-centric, to being concerned with devices, data and people, we believe the combined company, with the strengthened value proposition, will emerge as a leader in this growing market.


Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+