UK-listed Cybersecurity Firm Avast in Merger Talks With NortonLifeLock
London-listed cybersecurity firm Avast is in advanced talks with U.S. rival NortonLifeLock about a merger that would create a clear leader in consumer security software. From a report: Both companies confirmed the talks late on Wednesday, with Avast saying an offer would be in cash and shares, although it added there was no certainty a deal will be agreed. Avast, which was founded and based in Prague, Czech Republic, is a pioneer of 'freemium' software, whereby basic applications are free and subscribers pay for premium features. Its Avast and AVG branded desktop and mobile software had more than 435 million active users at the end of 2020, of which 16.5 million are paying. The shift to home working during COVID-19 spurred demand for its desktop products like antivirus software, and it recorded 7.1% organic growth in adjusted billings to $922 million last year.
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