Sunday, July 10, 2016

Avast + AVG Merger Extends Cyber Reach to 400 Million Endpoints

Prague-based Avast Software agreed to acquired AVG Technologies N.V. for $25.00 per share in cash, for a total consideration of approximately $1.3 billion. The offer price represents a 33% premium over the July 6, 2016 closing price and a premium of 32% over the average volume weighted price per share over the past six months.

Both companies offer antivirus software and Internet security services.  Both were founded in the Czech Republic in the late 1980s and early 1990s.

The combined company will cover more than 400 million endpoints, of which 160 million are mobile. The increase scale of the combined company will provide a deeper network of de facto sensors for tracking emerging cyber threats across the Internet.


Avast currently serves over 230 million endpoints.  The company has over 500 staff in Prague, Czech Republic, with additional offices in the USA, Germany, China, South Korea and Taiwan.

AVG, which is now based in Amsterdam, serves over 200 million endpoints.

"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."

"We believe that joining forces with Avast, a private company with significant resources, fully supports our growth objectives and represents the best interests of our stockholders," said Gary Kovacs, chief executive officer, AVG. "Our new scale will allow us to accelerate investments in growing markets and continue to focus on providing comprehensive and simple-to-use solutions for consumers and businesses, alike. As the definition of online security continues to shift from being device-centric, to being concerned with devices, data and people, we believe the combined company, with the strengthened value proposition, will emerge as a leader in this growing market."

http://www.avast.com
http://www.avg.com/

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