Czech Cybersecurity Provider Avast was bought by NortonLifeLock for $8.6 bln

Published: 19.08.2021 Related countries:  U.S.A. U.S.A.

The deal of the century is sealed. Avast will merge with NortonLifeLock

The billion-dollar deal of Czech tycoons Pavel Baudiš and Eduard Kučera with NortonLifeLock was sealed. Avast, founded in 1988 in Prague, and NortonLifeLock will merge to lead the transformation of consumer cyber safety.

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 merged company's headquarters will be both in Prague and the U.S. city of Tempe, Arizona.

"Avast's long-term mission is to enable the digital world that provides security and privacy for everyone. The proposed merger with NortonLifeLock is a significant step forward on this path. A world leader in cyber security focused on end-users will emerge, combining the strength of Avast in privacy and NortonLifeLock in identity protection, "said Ondřej Vlček, CEO of Avast.

Source: Business Wire

Prepared by the team at CzechTrade office in San Francisco