UK-based cybersecurity firm Avast in talks with NortonLifeLock for a merger

    Shares of NortonLifeLock fell as much as 4% after the Wall Street Journal first reported NortonLifeLock plans to buy Avast.
    By REUTERS
    | Updated on Jul 15 2021, 11:36 AM IST
    NortonLifeLock confirmed late on Wednesday that it was in discussion with Avast regarding a possible combination, without providing further details.
    NortonLifeLock confirmed late on Wednesday that it was in discussion with Avast regarding a possible combination, without providing further details. (REUTERS)
    NortonLifeLock confirmed late on Wednesday that it was in discussion with Avast regarding a possible combination, without providing further details.
    NortonLifeLock confirmed late on Wednesday that it was in discussion with Avast regarding a possible combination, without providing further details. (REUTERS)

    UK-based cybersecurity firm Avast Plc said on Wednesday it was in advanced talks over a merger with peer NortonLifeLock Inc. If the deal goes through, it will be a cash-and-share offer, Avast said. The company, however, added there was no certainty a deal will be agreed. NortonLifeLock confirmed late on Wednesday that it was in discussion with Avast regarding a possible combination, without providing further details.

    Avast makes free and premium security software for desktop and mobile devices under the Avast and AVG brands. It has a market capitalization of 5.20 billion pounds ($7.21 billion), according to Refinitiv data. The deal would help Tempe, Arizona-based NortonLifeLock, which primarily deals with consumer cyber safety, expand its focus to consumer software.

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    NortonLifeLock was previously known as Symantec Corp, before it sold its enterprise-security business to Broadcom in 2019. It currently sells Norton antivirus software and LifeLock identity-theft-protection products for home and work use.

    Shares of NortonLifeLock fell as much as 4% after the Wall Street Journal first reported NortonLifeLock plans to buy Avast. Shares of the company were flat in trading after the bell.

    ($1 = 0.7217 pounds)

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    First Published Date: 15 Jul, 11:36 AM IST
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