Avast will purchase all of the outstanding ordinary shares of AVG for $25.00 per share in cash for a total consideration of approximately $1.3 billion.
Led by Vince Steckler, chief executive officer, Avast Software today protects 230 million people and businesses with its security applications for PC, Mac, Android and iOS, and suites and services for business. The acquisition will allow the company to gain scale, improve technology and expand geographically. Combining Avast’s and AVG’s users, the organization will have a network of more than 400 million endpoints, of which 160 million are mobile, providing information about malware to detect and neutralize new threats as soon as they appear. This increase in scale will enable Avast to create technically advanced personal security and privacy products.
Led by Gary Kovacs, chief executive officer, AVG is a provider of software services to secure devices, data and people. Its consumer portfolio includes internet security, performance optimization, location services, data controls and insights, and privacy and identity protection, for mobile devices and desktops. The business portfolio, delivered through a global partner network, provides cloud security and remote monitoring and management (RMM) solutions that protect small and medium businesses around the world.