Norton LifeLock and Avast are merging in a deal reported to be worth more than $8 billion. The deal between the antivirus giants comes at a time when ransomware is becoming an increasingly worrisome issue.
According to reports, Norton LifeLock is set to acquire all of Avast’s shares to form a much bigger cybersecurity company. Vincent Pilette, CEO of Norton LifeLock, also expressed what the merger is all about. He explained how the merger would help strengthen cybersecurity and make the platform accessible and available to over 500 million users worldwide. Speaking further, Vincent said the merger will also, in a way, help to accelerate innovations that will change cyber safety for good.
The merger will most likely lead to antivirus products that will portray both Avast’s known focus on privacy and Norton LifeLock’s vast experience in identity. This is particularly interesting since the two antivirus companies are coming together at a time when cybersecurity and safety are very important for businesses and consumers at large.
Ransomware cases have been on the rise in recent times, with numerous high-profile cases occurring almost every other week. Earlier this week, Gigabyte experienced a ransomware attack, just as customers of Kaseya’s remote IT management software were affected in a large ransomware attack last month.
These attacks often lead to ransomware incidents, supply chain attacks, or even malware attacks that affect regular consumers. As proved in 2017 when hackers succeed in hiding malware inside system cleaner utility CCleaner, consumers usually end up as the victims when the database of credit cards and personal information gets leaked.
Recall, Avast was founded in the Czech Republic 11 years ago and has been creating software for consumers and businesses ever since. Avast also acquired AVG just 5 years ago. Norton LifeLock however, is the former consumer side of Symantec which was left behind during Broadman’s acquisition of the security business enterprise of Symantec 2 years ago.
While Norton antivirus has been in various forms of existence since 1991, 30 years after, it continues to maintain its position as a popular option for consumers.