Trend Micro -
NortonLifeLock and avast announced an $8 billion deal which will see the two consumer cybersecurity vendors merge their respective businesses. The two have highlighted the “compelling strategic and financial rationale” behind the merger, but what will the impact really be on customers and the cybersecurity industry?
While the devil is in the details yet to emerge, there are some concerns that consolidation of two major players may push up prices, whilst making life easier for the cyber-criminals.
What is next for customers?
Although yet to be approved by regulators, the deal announced on August 10th will mark a major turning point for both companies. Under its terms, Arizona-headquartered NortonLifelock will acquire all of Avast’s shares, estimated to cost between $8.1-$8.6 billion. NortonLifeLock’s CEO, Vincent Pilette, will remain in charge, while Avast boss Ondřej Vlček will become the new firm’s President. The vast majority (87%) of its 500 million customers will hail from Avast, and the new firm will be jointly headquartered in the Czech Republic capital of Prague, and Tempe, Arizona.