Avast Acquiring AVG For $1.3 Billion Deal

Avast says the reason for the acquisition is to gain scale, technological depth, and geographical breadth so that it can take advantage of emerging growth opportunities in internet security. With both companies combined, Avast will now have access to over 400 million devices that have either Avast or AVG installed.

According to Avast CEO, Vincent Steckler:

We are in a rapidly changing industry, and this acquisition gives us the breadth and technological depth to be the security provider of choice for our current and future customers, combining the strengths of two great tech companies, both founded in the Czech Republic and with a common culture and mission, will put us in a great position to take advantage of the new opportunities ahead, such as security for the enormous growth in IoT.

An Avast spokeswoman told TechCrunch that the AVG brand name would not be folded into Avast. She said team integrations is yet to start, but this will be done over the next few months:

We haven’t started planning the team integration yet. Over the next months we will be analyzing and planning the organizations, but can’t speak to any potential staff reductions until after that.
The deal is expected to be finalized by September as Avast shareholders need to approve the deal.
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