Software security giant Avast has announced to acquire rival company AVG for $1.3 billion in an all-cash deal. Avast introduced its consumer grade antivirus software and has over 230 million users worldwide will pay $25 for per outstanding ordinary shares of AVG.
Both Avast and AVG founded in Czech Republic and expanded internationally in the 2000 and have become major players in software security industry. AVG become one of the biggest brands in desktop and mobile security app and has around 170 million users. The Amsterdam headquartered company offers high range related services with AVG Cleaner for Android and Mac.
The acquisitions will make Avast the largest software security company in the world with combined 400 million users and near about 160 million users already use their mobile security products. The purchase agreement will allow Avast to expand its business transaction across more markets worldwide and it expects close the transaction by the end of October this year.
Since AVG has strong user base will help Avast to acquire technical depth and geographical breadth of the company and take advantage of emerging growth in internet security industry. The buyout will also help Avast to access data from more devices and serve the joint company a bigger pool of data on malware. That means it should be better positioned in the software security to offer better products for its large consumer base.
Source: PR Newswire
Image; PR Newswire