In a recent statement , Avast have agreed a deal to buy off AVG antivirus app and the deal is set to be worth $1.3 billion. while the deal will be possible via cash on hand and debt financing. Avast will be giving all of each shareholder of AVG, $25.00 per share in cash.
What Avast Is Planning To Achieve
Avast revealed that the number of users will rise to 400 million endpoints. 160 million Out of that number will be on mobile. They said that the move will help widen their geographical reach, and further solidify their stand as a top Internet Security provider. Vince Steckler, Chief Executive Officer of Avast Software made it more understandable through his speech.
“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.”
Meanwhile, the whole deal is expected to close between September 15, and October 15 this year.
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