The combined entity will serve more than 500 million users and will have nearly $3.5bn in revenue

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Headquarters of Avast in Prague. (Credit: JiriMatejicek/

US cybersecurity software firm NortonLifeLock has agreed to acquire Avast, a provider of digital security and privacy products based in the Czech Republic, for up to $8.6bn in a cash-cum-stock deal.

The proposed merger of the two firms is expected to create a major player in the consumer cyber safety business, serving more than 500 million users. The combined firm will have nearly $3.5bn in revenue.

NortonLifeLock CEO Vincent Pilette said: “This transaction is a huge step forward for consumer Cyber Safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely.

“With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users. We will also have the ability to further accelerate innovation to transform Cyber Safety.”

The two publicly listed firms had confirmed talks about the merger in July 2021.

As per the terms of the merger, shareholders of Avast will be eligible to receive a mix of cash consideration and newly issued shares in NortonLifeLock.

The merger values Avast’s entire issued and ordinary share capital to be issued between $8.1bn and $8.6bn, depending on the options selected by the company’s shareholders.

The shareholders can either opt-in for $2.37 in cash plus 0.1937 of NortonLifeLock stock or $7.61 in cash plus 0.0302 of NortonLifeLock stock for each of the shares they hold in the Czech firm.

Avast CEO Ondřej Vlček said: “At a time when global cyber threats are growing, yet cyber safety penetration remains very low, together with NortonLifeLock, we will be able to accelerate our shared vision of providing holistic cyber protection for consumers around the globe.

“Our talented teams will have better opportunities to innovate and develop enhanced solutions and services, with improved capabilities from access to superior data insights.

“Through our well-established brands, greater geographic diversification and access to a larger global user base, the combined businesses will be poised to access the significant growth opportunity that exists worldwide.”

Based in the Czech Republic, Avast is said to have more than 435 million users online, offers products under the Avast and AVG brands.

NortonLifeLock, on the other hand, offers products such as Norton AntiVirus, Norton Secure VPN, Norton 360, and Norton Mobile Security.

Post-merger, the combined company will maintain headquarters in Prague, Czech Republic, and Tempe, Arizona, US. It will trade on NASDAQ.