Inactive Instrument

Avast plc

AVST

GB00BDD85M81

UK regulator provisionally clears NortonLifeLock-Avast $8.6 billion deal

August 03, 2022 at 11:43 am IST

(Reuters) - Britain's Competition and Markets Authority (CMA) said on Wednesday it provisionally cleared cybersecurity company NortonLifeLock's $8.6 billion purchase of peer Avast Plc.

Following a more detailed Phase 2 investigation, the CMA said it concluded that the deal does not raise competition concerns in the UK.

(Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips)

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Avast plc is the world leader in cyber security software. Net sales break down by client type as follows: - individuals (94.6%): development of desktop, server and mobile device security software (Avast and AVG brands), and solutions for privacy control, password management, PC optimization and cleaning, mobile devices and connected devices (including CCleaner, Avast Cleanup, AVG Tune Up, HideMyAss and Avast Passwords). At the end of 2020, Avast plc had more than 435 million active users; - small and medium-sized enterprises (5.4%): development of antivirus and computing protection solutions on the cloud and on site under the Avast and AVG brands. Net sales are distributed geographically as follows: the United Kingdom (9.1%), the United States (39.1%), France (7.8%), Germany (6.7%) and other (37.3%).

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UK regulator provisionally clears NortonLifeLock-Avast $8.6 billion deal

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