Avast And AVG Merger Deal Finalized At $1.3 Billion

Posted: Jul 8 2016, 12:25pm CDT | by , in News | Technology News

Avast and AVG Merger Deal Finalized At $1.3 Billion

AVG and Avast are set to become one with the new acquisition deal under way. Both target different markets and hence the merger makes sense. An all cash offer of $1.3 billion was put forward by Avast which AVG seems content with and claims that the move is in the better interest of both the shareholders and the company’s future.

In addition to this AVG is getting an offer of $25 per share which is a 30% premium above current trading rates. AVG made the following statement “We believe that joining forces with Avast, a private company with significant resources, fully supports our growth objectives and represents the best interests of our stockholders, ... Our new scale will allow us to accelerate investments in growing markets and continue to focus on providing comprehensive and simple-to-use solutions for consumers and businesses, alike.”

It seems as if Avast has made no immediate plans of drastic restructuring within AVG and plans on utilizing the already available 400 million endpoints of which 160 million "act as de facto sensors, providing information about malware to help detect and neutralize new threats as soon as they appear,". Seems like a pretty thought out strategic move by Avast.

The deal is expected to finalize sometime in the time frame of September 15th to October 15th depending upon regulatory approval.

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.




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