7.05%
CYBER firm Avast climbed to the top of the
Some investors were concerned that Avast and US-based cyber security
Whilst this was traditionally the case, there has been increasingly less concern given that tech giants such as Microsoft, Apple and Google now provide native antivirus in their operating systems.
As a result, the competitive landscape is now much broader than what it used to be, and the merger was subsequently cleared by the
Analysts at broker
Avast currently specialise in small office protection and endpoint protection for small businesses, and has over 1,700 people in 18 locations globally.
The firms said the combined business would serve more than 500 million cybersecurity customers, including around 40 million direct customers.
"This transaction is a huge step forward for consumer Cyber Safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely," said Vincent
Pilette, chief executive of NortonLife- Lock.
Following the official deal, Avast chief executive
The merged company will be dualheadquartered in
The acquisition still needs the approval of Avast shareholders, who are due to decide on the deal on Thursday. However, passing the regulatory hurdle is positive news for investors.
(c) 2021 City A.M., source