Avast is acquiring AVG for $1.3 Billion
Popular antivirus firm Avast is acquiring rival antivirus firm AVG for $1.3 billion all-cash deal. With this deal, Avast will get more exposure worldwide. Both companies were founded in the Czech Republic in the late 1980s and early 1990s.
Together, the two companies have a user base of about 400 million, including about 160 million people using their mobile security products.
“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.”
It is not clear if Avast will merge the AVG into its own brand or continue to sell them under the existing banner.
Featured image source: which.co.uk