NortonLifeLock in talks to buy Avast – WSJ


FILE PHOTO: The logo of Avast Software company is seen at its headquarters in Prague, Czech Republic, April 12, 2018. REUTERS/David W Cerny

July 14, 2021

(Reuters) -NortonLifeLock Inc is in talks to buy European cybersecurity firm Avast Plc, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The deal would help Tempe, Arizona-based NortonLifeLock, which primarily deals with consumer cyber safety, expand its focus to consumer software.

UK-based Avast makes free and premium security software for desktop and mobile devices under the Avast and AVG brands.

It has a market cap of 5.20 billion pounds ($7.21 billion), according to Refinitiv data. A deal could be finalized this month, assuming talks do not fall apart, the Journal said, citing sources.

The companies were not immediately available for a comment.

NortonLifeLock was previously known as Symantec Corp, before it sold its enterprise-security business to Broadcom in 2019. It currently sells Norton antivirus software and LifeLock identity-theft-protection products for home and work use.

Shares of NortonLifeLock fell as much as 4% on the news. They were last down about 1% at $26.93.

($1 = 0.7217 pounds)

(Reporting by Nivedita Balu; Editing by Krishna Chandra Eluri)

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