Cyber-security firm Norton to buy Avast for over $8 billion

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Cyber-security firm Norton to buy Avast for over $8 billion
Cyber-security firm Norton to buy Avast for over $8 billion

Vincent Pilette was set to become chief executive of the expanded group, while Vlcek is to join the cyber-security firm as president and become a member of the NortonLifeLock board

To create a leading consumer business, US cyber-security giant NortonLifeLock is to buy Czech rival Avast for over $8 billion, the pair announced on Wednesday after the pandemic fuelled online activity.

The deal, equivalent to more than 6.7 billion euros, “is a huge step forward for consumer cyber safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely”, said Vincent Pilette, chief executive of the cyber-security firm Norton in a joint statement.

Ondrej Vlcek, chief executive of London-listed Avast, said that amid increasing global cyber threats, the tie-up would allow for “enhanced solutions and services, with improved capabilities”.

The statement added that more than 500 million users will benefit from the new group’s safety offerings.

Vincent Pilette was set to become chief executive of the expanded group, while Vlcek is to join the cyber-security firm as president and become a member of the NortonLifeLock board.

The combined company, to be listed on the Nasdaq, will be dual headquartered in Prague and Tempe, Arizona.

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