Avast to Acquire AVG Technologies for $1.3 Billion
Two of the popular antivirus security companies, Avast and AVG are coming together. Both are famous for their freeware antivirus product editions around the world. Yesterday, Avast CEO Vince Steckler has announced their plan to acquire AVG Technologies for about $1.3 billion.
Here is what Avast CEO Vince Steckler shared about their plans on the acquisition:
“Under an agreement signed with AVG, Avast will be making an offer ($25 per share or about $1.3 billion in total) to buy all shares of AVG’s stock which AVG’s board is recommending their shareholders accept. If the AVG shareholders do accept, following the various governmental regulators approvals, AVG will become part of Avast and we will jointly work on a great future together. We expect this to take a few months.”
“I do think this combination is great for our users. We will have over 250 million PC/Mac users enabling us to gather even more threat data to improve the protection to our users. In mobile, our combined 160 million mobile users will be used to improve protection as well as to provide an important stepping stone into the Internet of things. Additionally, we will be gaining some exciting mobile technology designed to protect families on line. In SMB, we will be better able to support our business users with a larger geographic footprint, better technical support, and the best technologies from our two companies.”
The deal, if everything goes according to plans will give Avast a substantial combined portfolio of security products. The present Avast product lineup includes, among other products, Avast Software Premium Business Security, Avast Internet Security 2016, Avast Pro Antivirus 2016, and Avast Free Antivirus 2016. Currently, AVG product lineup includes, among other products, AVG AntiVirus (2016), AVG Protection (2016), AVG CloudCare, and AVG Internet Security (2016).
“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,” said AVG CEO Gary Kovacs.
Do you use Avast or AVG products? What is your reaction about the acquisition of AVG by Avast? Share your thoughts with us in the comments below.