NORTONLIFELOCK BUY AVAST anti-virus vendors FOR $ 8.6 BILLION



The combined company will have over 500 million users. Czech Avast shareholders will be offered two payment options, combining cash and new NortonLifeLock shares, which will be traded on the NASDAQ exchange

American cybersecurity software developer NortonLifeLock and Czech antivirus giant Avast have agreed to a merger. This was reported in a press release on the website of the American company.

 

Under the terms of the deal, Avast shareholders will receive cash and new shares in the merged NortonLifeLock. They will have a choice between two options: either get $ 2.37 and 0.19 new NortonLifeLock shares for each Avast share, or $ 7.61 and 0.03 shares of NortonLifeLock. The share swap ratio is based on the closing price of a share ($ 27.2) of a US company on July 13, the last day before the two companies were reported to be in talks. Depending on the choice of shareholders, the deal could amount to $ 8.1-8.6 billion.

 

The Boards of NortonLifeLock and Avast believe the merger will benefit both strategically and financially and will be a good opportunity to create a new business that will lead the consumer security product segment.

 

The merged company's customer base will exceed 500 million users. The deal is expected to generate approximately $ 280 million in annual revenue. The merger will improve the financial health of the combined company through scaling up, long-term growth, cost synergies with reinvestment options, and strong cash flow supported by a strong balance sheet. And the deal is expected to result in double-digit earnings per share in the first full year following the completion of the merger and double-digit revenue growth over the long term.

 

The companies plan to close the deal in mid-2022. The combined company will be listed on the NASDAQ.

 

 

 

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