Avast To Acquire AVG For $1.3 Billion

When it comes to free antivirus software, there are several options that come to mind, such as Avast and AVG. Both companies could be considered rivals in the antivirus scene, but it looks like that will no longer be the case as Avast has announced their plans to acquire AVG for a whopping $1.3 billion.

This is an all-cash deal that will see AVG investors get $25 per share, which is said to be a premium of more than 30% on the current trading prices of AVG’s stocks. It also seems that for now, both Avast and AVG will continue to operate their antivirus software, as opposed to combining it all into one mega piece of software, so AVG users can rest assured that their favorite antivirus software isn’t going anywhere.

According to a statement made by AVG’s CEO Gary Kovacs, “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, … 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.”

The deal, if successful and pending regulatory checks and hurdles, will close later this year between September to October, 2016.

Tyler Lee
Categories: General
Tags: avast, avg