Two popular free Antivirus program i.e Avast and AVG, with similar names that often confuses, are now going to be merged into one Antivirus program.
Avast Antivirus, which is the world’s number one free antivirus, is going to acquire AVG Antivirus. Avast will purchase all of the ordinary shares of AVG for $25.00 per share in cash, for a total consideration of approx. $1.3 Billion.
This transaction will help combining Avast and AVG’s users, the organization will have a network of more than 400 million, of which 160 million are mobile. This increase in scale will enable Avast to create more technically advanced personal security and privacy products.
Both companies are industry pioneers founded in the Czech Republic in the late 1980s and early 1990s, that expanded internationally in the 2000s, and now will be combining complementary strengths to position Avast for continued growth in the security industry.
“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,” said Vince Steckler, chief executive officer of Avast Software.
“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.”
“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,” said Gary Kovacs, chief executive officer, AVG.
“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. 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.”