Strategic sourcing, procure-to-pay, inventory management and expenses. Under UK takeover rules, it has until August 11 to make a firm offer for Avast.Maximise value by adding on to your Workday investment.įinancial, workforce and operational analytics benchmarking and data management. It currently sells Norton antivirus software and LifeLock identity-theft-protection products for home and work use. NortonLifeLock was previously known as Symantec Corp, before it sold its enterprise-security business to Broadcom in 2019. Tempe, Arizona-based NortonLifeLock, said a deal would bring together "two companies with aligned visions".
The Wall Street Journal, which first reported the talks, said a deal could value Avast at more than $8 billion.Īnalysts at Berenberg, however, said "nothing short of a $10 billion valuation is fair to Avast's shareholders".Ī spate of cyber attacks had propelled valuations, they said, and with private equity and large enterprises attempting to outbid each other, deal premiums had gone up as well. The company's founders, Pavel Baudis and Eduard Kucera, own a combined 35%. Shares in Avast, which listed in London in 2018, were trading up 13% at 570 pence at 0856 GMT, giving the company a market capitalisation of 5.87 billion pounds ($8.11 billion), according to Refinitiv data. The shift to home working during COVID-19 spurred demand for its desktop products like antivirus software, and it recorded 7.1% organic growth in adjusted billings to $922 million last year. Its Avast and AVG branded desktop and mobile software had more than 435 million active users at the end of 2020, of which 16.5 million are paying. rival NortonLifeLock Inc (NLOK.O) about a merger that would create a clear leader in consumer security software.īoth companies confirmed the talks late on Wednesday, with Avast saying an offer would be in cash and shares, although it added there was no certainty a deal will be agreed.Īvast, which was founded and based in Prague, Czech Republic, is a pioneer of "freemium" software, whereby basic applications are free and subscribers pay for premium features. LONDON, July 15 (Reuters) - London-listed cybersecurity firm Avast (AVST.L) is in advanced talks with U.S.
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