Norton and Avast Team Up for $8 Billion Antivirus Empire
NortonLifeLock and Avast have teamed up in a deal worth over $8 billion. The deal would see NortonLifelock acquire all of Avast's shares and create a much larger cybersecurity firm.
“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 will also have the opportunity to accelerate innovation to transform cybersecurity.”
The combination should result in antivirus products that take advantage of Avast's focus on privacy and NortonLifeLock's identity expertise, all at a time when cybersecurity is critical for consumers and businesses alike.
The number of ransomware is on the rise, and there seem to be new high-profile cases on a weekly basis. Earlier this week, Gigabyte was hit by a ransomware attack, and last month a major ransomware attack affected customers of Kaseya's IT remote management software.
These attacks can often lead to supply chain attacks, ransomware incidents, or malware that affect consumers as well. In 2017, hackers managed to hide malware inside the CCleaner system cleanup utility, and consumers are often the victims of leaked credit card databases and personal information.
Avast, based in the Czech Republic, has been making software for consumers and small businesses for 11 years and acquired AVG five years ago. NortonLifeLock is the former consumer side of Symantec that was left behind after Broadcom acquired Symantec's enterprise security business two years ago. Norton antivirus has been around in various forms since 1991 and has remained a popular option for consumers for 30 years.