NortonLifeLock has announced an agreement to merge with Czech security software company Avast in a cash and stock-based deal, worth north of $USD11 billion.
Avast shareholders will receive a combination of shares in NortonLifeLock and cash. The deal means that Avast stockholders will hold roughly 14 per cent of the new NortonLifeLock.
Avast CEO Ondrej Vlcek will be President and Directorm while Vincnt Piltte will remain CEO of NortonLifeLock.
After the merger, the company will boast half a billion users globally, and will be headquartered in Arizona and Prague.
NortonLifeLock acquired German antivirus software company Avira in December, 2020, for $360 million.
