NortonLifeLock, an antivirus vendor, announced that it will merge with Avast PLC of the UK in a transaction that will combine cash and stock in two alternative options, totaling between $8.1 billion and $8.6 billion in stock.
Based on the closing price of Avast stock on the London Stock Exchange of £5.68, that value is roughly similar to the value in US dollars of Avast’s enterprise value, which includes cash and debt, of £6.5B. In late trading, NortonLifeLock’s stock increased 2.5%.
In a joint press release, both companies claimed their boards of directors perceive a potential to build a new, industry-leading consumer Cyber Safety business.
To Read More: ZDNet
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