Friday, 8 July 2016

Avast Software agreed to pay $1.3 billion to acquire rival AVG Technologies

Siva Kumar     21:16     1 comment

Avast and AVG are very well known in the cyber security space, as well as consumers. Avast, which commands a fifth of the global antivirus market, announced that it acquired Avg.

The transaction was approved by the management and supervisory boards of Avast and AVG and avast includes AVG's unique purchasing ordinary shares of $ 25 each. The total value of the transaction is approximately $ 1.3 billion. AVG is a publicly traded company, so the deal must first be approved by shareholders and Avast expect that it will be concluded by the end of September or October this year.

The offer price represents a 32 percent premium over the reported volume-weighted average price during the last 6 months.

Both companies were established in Czechoslovakia, sometime in the early 1990s. Avast has a better reputation for security circles and consistently maintained itself among the top ranks of AV-Test rankings. AVG has fared, and how were also mired in controversy for its browser plugins. This program is known, however, which is probably what prompted the 'ng to consider the buyout.

Avast claims that the purchase bid to "get the scale, technology depth and geographic breadth so that the new entity may be able to take advantage of growth opportunities emerging internet security, organizational efficiency."

"We are in a rapidly changing industry, and this acquisition gives us the breadth and depth of technological security supplier of choice to our current and future customers," said Vince Steckler, the CEO of avast Software.

Avast claims that the deal would expand its reach 400 million end points, more than half of which represents smartphones. The larger footprint there is more data avast working with more malware to detect and therefore better software and security.

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  1. Using Kaspersky protection for a number of years now, and I'd recommend this product to everybody.

    ReplyDelete

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