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Avast to acquire AVG for $1.3 Billion

Avast to acquire AVG for $1.3 Billion

Avast to acquire AVG for $1.3 Billion

Avast to acquire AVG for $1.3 Billion

 

Avast plans to acquire AVG for $1.3 Billion potentially combining two of the world's largest Antivirus providers. Both companies are based in the Czech Republic and have been considered as close rivals due to their competing programs on both windows PC and mobile devices.

Avast is offering AVG $25 per share which totals at $1.3 Billion with the transaction already being approved by AVG's board of directors and Avast's Management and Supervisory Board, though the acquisition still needs to be approved by AVG's shareholders.  

Below is a statement from Avast Software's CEO Vince Steckler;

 

        We are in a rapidly changing industry, and this acquisition gives us the breadth and technological depth to be the security provider of choice for our current and future customers,

Combining the strengths of two great tech companies, both founded in the Czech Republic and with a common culture and mission, will put us in a great position to take advantage of the new opportunities ahead, such as security for the enormous growth in IoT.

Avast to acquire AVG for $1.3 Billion  

 

Both companies see this move as a positive step, allowing them to explore the new opportunities provided on the Internet of Things (IOT) as well as the ability to pool their resources to deliver consumer better value out of their products. Gary Kovacs, CEO of AVG Technologies had this to say on the matter. 

 

     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,

As the definition of online security continues to shift from being device-centric, to being concerned with devices, data, and people, we believe the combined company, with the strengthened value proposition, will emerge as a leader in this growing market.

 

You can join the discussion on Avast's plan to acquire AVG Technologies on the OC3D Forums

 

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Most Recent Comments

10-07-2016, 10:15:58

demonking
1.3 billion or million? Billion is in the title but million in the article.Quote

10-07-2016, 10:19:35

RobM
oh dearQuote

10-07-2016, 11:19:53

Pr3d4t0r
crap + crap = a bigger pile of crap

I believe my maths is correctQuote

10-07-2016, 11:24:35

WYP
Quote:
Originally Posted by demonking View Post
1.3 billion or million? Billion is in the title but million in the article.
Billion. The typo has been corrected.Quote

10-07-2016, 14:04:05

notcool
Quote:
Originally Posted by Pr3d4t0r View Post
crap + crap = a bigger pile of crap

I believe my maths is correct
Yep AVG is bollocks you'd be better off with MSE (Microsoft Security Essentials) which is free. Avast has improved but nothing on Kaspersky or ESET Nod 32.Quote
Reply
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