NortonLifeLock (Norton) recently announced that it will be merging with the Prague-based antivirus company, Avast. The software security company, a spin-off from the Symantec Corporation, said in a joint press release that the acquisition was made to the tune of US$8 billion (~RM33.9 billion).
The matter of the acquisition is still in the process of wrapping up, but once completed, Norton says that both entities will have effectively share headquarters, with Norton’s base of operations located in Arizona, US, and Avast’s in Prague, Czech Republic. Moreover, Ondřej Vlček, CEO of Avast, will also be made president of Norton.
Another point to note is that, with the merger, the new entity will command over 500 million users that use antivirus software from both camps. At the time of writing, there is still no word whether both companies will retain their respective antivirus programs or if something new will emerge from the merger.
The acquisition isn’t without its own set of perils and worries either. Avast, in particular, came under scrutiny last year when it was caught selling the personal information of its users to third-party marketing firms. Not long after being exposed, the company responded by shutting down the subsidiary, Jumpshoot, and effectively letting go of hundreds of employees.
(Source: Telegraph via Techspot)