NortonLifeLock and Avast are merging into a deal worth more than $ 8 billion. With the transaction, NortonLifelock will buy all the shares in Avast and create a much larger cybersecurity company. “With this combination, we can strengthen our cybersecurity platform and make it available to more than 500 million users.” says Vincent Pilette, CEO of NortonLifeLock. “We also have the ability to further accelerate innovation to change cybersecurity.”
The combination should result in anti-virus products that incorporate the benefits of Avast’s focus on privacy and NortonLifeLock’s identity experience whenever cybersecurity is critical for both consumers and businesses.
Ransomware is on the rise, and new high-profile cases occur weekly. Gigabyte hit a ransomware attack earlier this week, and a major ransomware attack affects Kaseya’s customers IT remote management software last month.
These attacks can often lead to supply chain attacks, ransomware events, or malware that also affect ordinary consumers. The hackers succeeded hide malware in system cleaner CCleaner in 2017and consumers are often victims when credit card databases and personal information leak.
Founded in the Czech Republic, Avast has been creating software for consumers and small businesses for 11 years, while NortonLifeLock is a former consumer side of Symantec that lagged behind after Broadcom acquired Symantec’s enterprise security business two years ago. The Norton antivirus program has been in various forms since 1991 and has been the preferred option for consumers for 30 years.