Avast to acquire antivirus software maker AVG for $1.3 billion
Together, the two Czech-based security companies have around 400 million users, of which 160 million are mobile users.
Antivirus software maker Avast announced on Thursday that it will acquire AVG, another security software developer, in a $1.3 billion (approximately Rs 8,800 crore) deal, at $25 per share. “We are in a rapidly changing industry, and this acquisition gives us the breadth and technological depth to be the security provider of choice for our current and future customers,” said Chief Executive Officer Vince Steckler.
Together, the Czech-based companies have around 400 million users, TechCrunch reported. Of this, 160 million are mobile users, which will allow Avast to have better insight into malware and improve products to fight it. “We believe that joining forces with Avast – a private company with significant resources – fully supports our growth objectives and represents the best interests of our stockholders,” CEO of AVG Gary Kovacs said.
The deal is expected to come with changes in the organisation, which may also include layoffs. “We haven’t started planning the team integration yet. Over the next months, we will be analysing and planning the organisations,” a spokesperson for Avast Software said, adding that the AVG brand will disappear. The acquisition is expected to be completed between September 15 and October 15.