M&A

August 11, 2021

One Sexy Cybersecurity Deal 💰

Another day, another bit of M&A news.

The world’s largest anti-malware software company will merge with its biggest competitor. NortonLifeLock is bringing Avast into its fold as part of an $8 billion deal. Ooh la la. 🤑

Avast shareholders will own between 14-26% of NortonLifeLock’s shares after the deal closes, giving shareholders an option to choose between receiving more cash or more shares.

The combined company will now own a quarter of the anti-malware market. 🥵 That’s a huge consolidation for the tech security market. Symantec, which owns Norton, represents a 13.1% share of the anti-malware market as of May 2020, which edged those of Avast (12.6%). 

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NortonLifeLock rose 8.7% on the news. Avast, which trades on the London Stock Exchange, glowed up 3.1% before word got out. ✨ We’re anticipating more action when the LSE opens tomorrow.

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