Cyber Security giants Norton and Avast are merging into a single company. Valued at up to $8.6 billion, depending on Avast shareholders' decision, this deal will see Avast being absorbed by Norton.
As both companies turn into one, NortonLifeLock and Avast shareholders believe the merger “has compelling strategic and financial rationale and represents an attractive opportunity to create a new… consumer Cyber Safety business”. According to Vincent Pilette, Norton's CEO, thanks to this deal, Norton's cybersecurity platform will become available to over 500 million users.
Once the deal is closed, expect to see some updates on the software solutions of both companies. Norton products may benefit from Avast's expertise in privacy and vice-versa, with Avast receiving some of Norton's identity features in its software suite. Another possible change is making Avast their free product while leaving Norton as the paid solution.
Before Broadcom acquired Symantec's enterprise solution in 2019, Norton was responsible for the consumer-grade antivirus solutions of the latter. However, once Symantec was bought by Broadcom, Norton became independent. As for Avast, the company had bought AVG in 2016, meaning Norton actually acquired two antivirus solutions instead of one.
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KitGuru says: Ransomware and other cyber attacks have become more frequent than ever. New cybersecurity solutions are needed as hackers adapt and distribute malware through new methods. Hopefully Norton and Avast can bring some needed innovation to the cybersecurity software market.