NortonLifeLock Agrees to Buy Cybersecurity Provider Avast

NortonLifeLock Inc. agreed to acquire and combine with cybersecurity firm Avast PLC in a cash-and-stock deal that would extend the U.S. company’s focus on consumer software.

Shareholders of Prague-based Avast will receive a combination of cash and newly issued shares of NortonLifeLock in a deal that has an equity value between $8.1 billion and $8.6 billion, the companies said.

The Wall Street Journal reported in July that the two companies were in advanced discussions.

NortonLifeLock, based in Tempe, Ariz., was previously known as Symantec Corp. before it closed a $10.7 billion deal to sell its enterprise-security business to Broadcom Inc. in 2019. The company now mainly sells Norton antivirus software and LifeLock identity-theft protection products to consumers.

Avast primarily makes both free and premium security software for consumers such as desktop security and server and mobile-device protection. Its shares trade in London.

Comments are closed.