NortonLifeLock (NASDAQ: NLOK), a consumer cyber safety company, is to acquire Tettnang, Germany-based Avira, a provider of a consumer-focused portfolio of cybersecurity and privacy solutions, for approximately $360m.
The seller in the deal was Investcorp Technology Partners.
Subject to regulatory and customary closing conditions, the acquisition is expected to close in the Fiscal 2021 fourth quarter and is not expected to be material to Fiscal 2021 Q4 results.
Upon deal close, Avira CEO Travis Witteveen and CTO Matthias Ollig will join the NortonLifeLock leadership team.
Avira provides a consumer-focused portfolio of security and privacy solutions for Windows and Mac computers, Android and iOS smartphones, home networks, and smart devices (IoT). All features are available as licensed SDKs and APIs. Working together, Avira and its partners protect more than 500 million devices globally.
The deal accelerates NortonLifeLock’s international growth in Europe and key emerging markets, brings freemium business model and 30M+ active devices to the Norton family, and adds approximately 3 points of growth to revenue with more than 1.5M paying customers.
Led by Vincent Pilette, CEO, NortonLifeLock is a global leader in consumer Cyber Safety dedicated to helping secure the devices, identities, online privacy, and home and family needs.