Avast is buying AVG for $1.3 Billion

By | July 7, 2016
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Avast is buying AVG for $1.3 Billion

Avast announced that it will acquire AVG for $1.3B. Avast and AVG are two of the most popular (although not best) antivirus programs available. Both have long touted their free security programs. We’re wondering how a so-so antivirus company which claims hundreds of millions of users – most of whom use the free version because it’s one of the only free antivirus solutions left, can make enough money to buy out AVG (another antivirus company known for its free antivirus program) – and why would they want to.

If I were an Avast or AVG user, I would certainly be wary. A company does not spend $1.3 billion unless it intends to make enough profit to make that investment profitable.

Considering that neither AVG or Avast is listed near the top in independent (and unbiased) antivirus testing lab – AVAST and AVG users should beware – a change may be coming.

Most experts don’t expect any changes to take place in the immediate future – but changes is certainly on the way. Keep your eyes open.

Here’s an excerpt from the Avast press release:

Avast Announces Agreement to Acquire AVG for $1.3B

Two Security Pioneers Unite to Strengthen their Global Leadership in Internet Security
Redwood City, California / Amsterdam, The Netherlands, July 7, 2016 – Avast Software, an industry-leading maker of the most trusted security software in the world, and AVG Technologies N.V., (NYSE: AVG), a developer of business, mobile and PC device security software applications, today announced that they have entered into a purchase agreement in which Avast will offer to purchase all of the outstanding ordinary shares of AVG for $25.00 per share in cash, for a total consideration of approximately $1.3B. Both companies are industry pioneers founded in the Czech Republic in the late 1980s and early 1990s, that expanded internationally in the 2000s, and now will be combining complementary strengths to position Avast for continued growth in the security industry.

Avast is pursuing this acquisition to gain scale, technological depth and geographical breadth so that the new organization can be in a position to take advantage of emerging growth opportunities in Internet Security as well as organizational efficiencies. The technological depth and geographical reach will help Avast serve customers with more advanced security offerings in the core business and new innovations in emerging markets, such as security for IoT devices.

Combining Avast’s and AVG’s users, the organization will have a network of more than 400 million endpoints, of which 160 million are mobile, that act as de facto sensors, providing information about malware to help detect and neutralize new threats as soon as they appear. This increase in scale will enable Avast to create more technically advanced personal security and privacy products…

Read the entire press release here.

 


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