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Antivirus developer avast has announced the acquisition of AVG for $1.3 billion

Antivirus developer avast has announced the acquisition of AVG for $1.3 billion

by seo_worker » 2016-07-11 08:52:55

July 7, 2016, the company Avast Software and AVG Technologies have announced an agreement under which the Avast is going to buy all the available in circulation shares AVG at $25 apiece. The total purchase price of approximately $1.3 billion After the merger of the two developer solutions in the field of information security the user base of the company will consist of more than 400 million customers, 160 million of which are mobile.

Both companies were founded in the Czech Republic in the late 80's-early 90's years and are the pioneers of the industry. At the moment, they intend to combine efforts that will allow them to better position itself for ongoing growth in the field of information security.

Official press release States that this acquisition will allow Avast to scale its activities to increase technological efficiency of the offered services and to expand the geographic scope of its presence, resulting in a new organization will be able to take advantage of emerging growth opportunities in the field of Internet security, as well as to improve the efficiency of its activities. Thanks to new technical capabilities and geographic coverage. Avast will supply customers perfect proposals in the field of business security, and to create solutions for new markets, for example, the "Internet of things".

The transaction was unanimously approved by the Board and the Board of Directors Avast. The Board and the Board of Directors of AVG also supported the idea of merger and recommended the offer to shareholders of the AVG acceptance.

Qoute:"We operate in a rapidly changing industry, and this merger will contribute to the growth of our business and creating technical solutions that will allow us to be the best provider of security services for our current and prospective customers," says Vince Steckler, CEO of Avast Software. — Joining forces of two leading companies working in the field of information technology established in the Czech Republic and having a common culture and strategic goals, will give us a great opportunity to take advantage of new opportunities, such as security in the fastest-growing segment of the Internet of things.
"We are confident that teaming up with Avast, a private company with significant resources, fully fit into the scheme of our goals of business growth and best interests of our shareholders," says Gary Kovacs, CEO of AVG. — New scale will allow us to increase investment in growth markets and continue to focus on providing comprehensive and easy-to-use solutions for consumers and organizations alike. As soon as the notion of network security continues, the focus shifts from devices to devices, data and people, we are confident that the combined company with enhanced benefits will manifest themselves in this growing market as a leader."

According to the newspaper Financial Times, the transaction is secured by cash and credit money: Avast granted a loan in the amount of $1.7 billion organizations, Jefferies, Credit Suisse and UBS. To complete the consolidation plan in September–October of 2016.
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