Two antivirus firms, Norton and Avast are coming together to fight computer viruses and other forms of cyber-attacks.
NortonLifeLock and Avast, Global leaders in consumer, digital and private cyber security have merged in an $8B antivirus empire deal.
The two antivirus giants struck the deal to become one single empire providing cyber security to consumers.
In the deal, NortonLifelock will acquire all of Avast’s shares and create a much larger cyber security firm.
In a statement, NortonLifeLock CEO, Vincent Pilette said:
“With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users.”
“We will also have the ability to further accelerate innovation to transform Cyber Safety.”
Why Norton and Avast are merging:
There has been an increase in the cyber-attack on big companies lately.
Taiwanese manufacturer and distributor of computer hardware, Gigabyte Technologies was attacked by a ransomware earlier this week.
Just last month, hackers attacked a software platform, Kaseya which is designed to help manage IT services remotely.
Also, the attacks targeted six large Managed Service Providers (MSPs) and encrypted data for as many as 200 companies.
Although the attack was on MSPs, the ripple effect cuts across over 1000 companies, a Bloomberg report claims.
How the attacks work:
They sent messages having harmful hyperlinks to computers of users.
MSPs provide remote IT services for network management, system updates, and backups, among other things.
Also, Hackers managed to hide malware inside system cleaner utility CCleaner in 2017.
In all the attacks, consumers risk their private data like credit card details, passwords, classified information to hackers.
ALSO READ: Accounts Verification Scams Flood Instagram, Twitter, Facebook
Companies also lose huge amounts of money and clients to hackers.
Attesting to this trend, the CEO of Avast, Ondřej Vlček said:
“At a time when global cyber threats are growing, yet cyber safety penetration remains very low, together with NortonLifeLock, we will be able to accelerate our shared vision of providing holistic cyber protection for consumers around the globe.”
He also noted that, “Our talented teams will have better opportunities to innovate and develop enhanced solutions and services.”
He said it will be “with improved capabilities from access to superior data insights.”
“Through our well-established brands, greater geographic diversification and access to a larger global user base, the combined businesses will be poised to access the significant growth opportunity that exists worldwide.”
Importance of the merger:
The combined antivirus firms will improve on their finances with more sales and also scale to become bigger.
Moreover, the Merger will enhance long-term growth, cost synergies with reinvestment capacity and strong cash flow generation.
According to the companies, the following are the strategic financial benefits of the merger:
Accelerates the transformation of consumer Cyber Safety with over 500 million users;
Combines Avast’s strength in privacy and NortonLifeLock’s strength in identity, creating a broad and complementary product portfolio, beyond core security and towards adjacent trust-based solutions;
Strengthens geographic diversification and facilitates expansion into the SOHO / VSB segments;
Unlocks significant value creation through approximately USD 280 million of annual gross cost synergies1, with additional upside potential from new reinvestment capacity for innovation and growth;
Brings together two strong and highly experienced consumer-focused management teams.
How it affects you:
- It will enable both parties to protect and empower people to live their digital lives safely.
- The fortified companies’ antivirus will become available to over 500 million users.
- Hackers will not be able to attack your laptops, mobile phones, Macs, etc again.
- Getting the stronger antivirus will become cheaper compared to having to buy the two separately.
- Also, you can comfortably browse the internet without the fear of hackers attacking your device.
- Antivirus protection of your laptops and phones will use machine learning to detect and stop cyber-attacks in real time.
- The merger will save you money from which you would have lost in forms of data loss.
Meet the two antivirus companies:
Avast Antivirus:
Avast, is Czech Republic antivirus firm.
For over 11 years now, Avast has been creating software for consumers and small businesses.
Five years ago, Avast acquired AVG.
AVG AntiVirus is a line of antivirus software developed by AVG Technologies but is now a subsidiary of Avast.
Norton Antivirus:
NortonLiffelock is a US cyber security giant. Norton started functioning since 1991.
NortonLifeLock is the former consumer side of Symantec, a software company.
Symantec was left behind after Broadcom acquired Symantec’s enterprise security business two years ago.
Norton antivirus has remained a popular option for consumers for 30 years.
Broadcom Corporation is an American fabless semiconductor company that makes products for the wireless and broadband communication industry.
Norton describes itself as follows: NortonLifeLock Inc. (NASDAQ: NLOK) is a global leader in consumer Cyber Safety, protecting and empowering people to live their digital lives safely.
Also, Norton said, in an increasingly complex and connected world, that consumers trust it greatly.
Avast, on the other hand, describes itself as follows:
Avast (LSE:AVST), a FTSE 100 company, is a global leader in digital security and privacy products.
With over 435 million users online, Avast offers products under the Avast and AVG brands that protect people from threats on the internet and the evolving IoT threat landscape.
The company’s threat detection network is among the most advanced in the world, using machine learning and artificial intelligence technologies to detect and stop threats in real time.
Avast digital security products for Mobile, PC or Mac are top-ranked and certified by VB100, AV-Comparatives, AV-Test, SE Labs and others.
Avast is a member of Coalition Against Stalkerware, No More Ransom and Internet Watch Foundation.
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