*Avast to buy rival AVG for $1.3 billion

from the Editor:  …..

Breaking New for Today:   Antivirus company Avast Software has announced that it is planning to acquire it’s Dutch rival AVG Technologies for $1.3 Billion in cash. With more than 230 Million users worldwide, Avast provides free and paid security software packages for both PCs as well as mobile devices to businesses and individuals.

The deal between the two popular security software companies will provide Avast with 400 Million endpoints — devices that have some form of Avast or AVG application installed. Around 160 Million of those are mobile. AVG technologies has recently come under criticism for updating its policy that clearly said that the company will be allowed to collect and sell users’ “non-personal data” to online advertisers in order to “make money” from their “free offerings” so they can keep them free. With access to a large number of devices, Avast will be granted more opportunities in Internet antivirus and security-related business, giving the company a bigger pool of data on malware to offer better security products.

The offer of $25 per share on AVG represents a 33 percent premium to its closing price Wednesday on the NY Stock Exchange. Avast will fund the transaction using cash on hand and debt financing. This is the most recent major tech acquisition in last few months. Just last month, Microsoft made its biggest acquisition by acquiring LinkedIn, the social network for professionals, for $26.2 Billion in cash.

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3 thoughts on “*Avast to buy rival AVG for $1.3 billion

  1. Both are good products so on the surface it might be a good thing. But if it’s all about increasing the level of customer spying, then no … not a good thing.

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