Avast Software has made it public that it is going to acquire the popular Antivirus maker AVG Technologies. The deal is worth $1.3 billion in cash. It will allow the company to expand its businesses and focus much on the security services with more researches in the IoT devices.
Avast has agreed to pay $25 per share to the AVG which represents the 33 % premium to the closing price of AVG’s stock. The company has both paid and free users at a number of over 230 million around the globe.
“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,” said Gary Kovacs, chief executive officer, AVG.
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