New Delhi: US cyber security giant NortonLifeLock and Avast has signed for a deal worth more than $8 billion to address the growing concern on the ransomware. All credit to the continued pandemic, which has fuelled the online activity. It 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”, Norton chief executive Vincent Pilette said in a joint statement.
Avast, which was founded in the Czech Republic, has been creating software for consumers and small businesses for 11 years, and acquired AVG five years ago. At the same time, Norton antivirus has existed in various forms since 1991, and has remained a popular option for consumers for 30 years.
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 combination should lead to antivirus products that include the benefits of Avast’s focus on privacy and NortonLifeLock’s experience in identity, all at a time when cyber security is critical for both consumers and businesses.
With this joint venture, there will be more than 500 million users will benefit from the new group’s safety offerings, the statement added. Pilette was set to become chief executive of the expanded group, while Vlcek is to join NortonLifeLock 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.
