Cybersecurity company NortonLifeLock has agreed to acquire Avira in a cash deal valued at approximately $ 360 million. The acquisition will bring the company, which focuses on consumer-centric privacy and anti-virus solutions, under the Norton umbrella.
“I am delighted to welcome Avira to the Norton family.” said Vincent Pilette, CEO at NortonLifeLock. “We strive to provide cybersecurity for everyone. The acquisition of Avira will add a growing business to our portfolio, accelerate our international growth and add a leading freemium solution to our go-to-market model. We fit well together culturally. We share a relentless focus on delivering innovative products to customers and always think of the customer first. We can’t wait to get started with Avira. “
The partnership is expected to open a number of strategic and financial benefits for the two companies. In particular, Avira will benefit from the scale that cooperation with Norton offers. Norton’s 360 antivirus suite remains one of the most popular cybersecurity tools, especially for protecting individual desktops.
In view of the potential synergies generated through the collaboration, the Avira acquisition will help advance NortonLifeLock’s goal of improving cybersecurity for all by leveraging Avira’s existing customer base. It will also accelerate Norton’s international growth across Europe and in major emerging markets.
In addition, NortonLifeLock will benefit from the addition of the Avira Freemium business model to its existing portfolio and from the company’s 1.5 million paying customers. When the deal is completed, which is expected in the fourth quarter of fiscal 2021, Travis Witteveen, CEO of Avira, and Matthias Ollig, CTO, will join NortonLifeLock’s leadership team.
For those of you who weren’t careful, NortonLifeLock was previously known as Symantec until it was acquired by Broadcom last year. So far there has been no news as to whether Avira will undergo a similar name change.
Source link : https://www.techradar.com/news/nortonlifelock-acquires-avira-in-all-cash-deal/