Norton+Avast
Norton+Avast

NortonLifeLock and Avast to merge in $8 billion transaction

Cyber-security firm NortonLifeLock announced today that it reached an agreement to merge with Czech antivirus maker Avast in a stock-based deal that could be worth between $8.1 billion to $8.6 billion.

Merger terms and details:

  • Under the terms of the merger, Avast shareholders will be entitled to receive a combination of cash and newly issued shares in NortonLifeLock.
  • The NortonLifeLock shares provided to Avast stockholders will be $27.20/share, which was the closing share price on July 13, 2021, the day before news of the merger talks leaked online, and market speculation began.
  • Pending approval from Avast shareholders, the deal could be worth between $8.1 billion to $8.6 billion.
  • Once approved, Avast stockholders will hold approximately 14% of the combined company's shares.
  • NortonLifeLock Chief Executive Officer Vincent Pilette will remain CEO of the new company.
  •  Avast CEO Ondrej Vlcek will serve as President and become a member of the new company's Board of Directors.
  • On completion of the merger, the combined company will be dual headquartered in Prague, Czech Republic, and Tempe, Arizona, USA.
  • The combined company will be listed on NASDAQ. NortonLifeLock is currently listed on NASDAQ as NLOK, while Avast is listed on the London Stock Exchange as AVST.
  • The new joint company will serve an estimated userbase of 500 million users.
  • Additional merger documents are available on the Avast investor relations portal.

Prior to the Avast merger today, NotonLifeLock also bought German antivirus maker Avira in a $360 million cash transaction in December 2020.

NortonLifeLock formed in November 2019 after Symantec sold its enterprise assets to Broadcom for $10.7 billion, with Symantec's consumer and SMB operations rebranding as NortonLifeLock.

Get more insights with the
Recorded Future
Intelligence Cloud.
Learn more.
No previous article
No new articles
Catalin Cimpanu

Catalin Cimpanu

is a cybersecurity reporter who previously worked at ZDNet and Bleeping Computer, where he became a well-known name in the industry for his constant scoops on new vulnerabilities, cyberattacks, and law enforcement actions against hackers.