All indicators were green except one. On Wednesday, the UK’s Competition and Markets Authority (CMA) ruled in favor of Czech antivirus company Avast over its US rival Norton. A cash and stock deal of approximately $8.5 billion, based on the group’s estimated value. Avast’s shares rose more than 43.29% on the London Stock Exchange on Wednesday afternoon.
The merger will combine 4,000 employees and reach a market of more than 500 million users worldwide, making the new NortonLifeLock-Avast group an antivirus giant. With the Czech company, Norton gets a 1,700 skills incubator and will be able to rely more on research and development.
Very competitive market
The Avast acquisition deal was announced in August 2021. At the time, Avast CEO Ondrej Vlcek said the merger would allow both groups to grow further.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.