US cybersecurity firm NortonLifeLock has confirmed it is acquiring British rival Avast in order to create a global consumer security powerhouse.
The agreement, which comes just weeks after both companies confirmed they were in advanced discussions regarding a possible combination of the two brands, will see Avast stockholders receive cash and shares that value the deal at $8.1 billion to $8.6 billion. That makes this merger the third-largest cybersecurity acquisition of all time, following Thoma Bravo‘s $12.3 billion takeover of Proofpoint and Broadcom’s $10.7 billion acquisition of Symantec’s enterprise business.
NortonLifeLock, formed in 2019 as a spin-off from Symantec following the latter, says the deal will create an industry-leading consumer cyber safety