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Avast acquires AVG for $1.3 Billion

Avast acquires AVG for $1.3 Billion

Avast to acquire AVG for $1.3 Billion

Avast acquires AVG for $1.3 Billion

 

Avast has now reached an agreement to acquire AVG for $1.3 Billion 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, which is a 33% price premium over AVG's closing share price in July 2016. 

Below is a statement from Avast Software's CEO Vince Steckler, who states that pooling the resources of the two companies will allow them to deliver better products for consumers and expand into new markets. 

 

        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 acquires AVG for $1.3 Billion

(Avast has also updated their brand logo)

 

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 acquiring AVG Technologies on the OC3D Forums

  

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Most Recent Comments

10-10-2016, 07:07:33

Wraith
Big money, for an aquisition. Me personally I haven't used an AV in nearly 6 years, never needed too.Quote

10-10-2016, 16:37:49

NeverBackDown
Hopefully they do good with there combined resources. Personally hate both, ad crazy those areQuote
Reply
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