Breaking: Computer Anti-Virus Company, Norton, Buys Avast

• According to Norton Chief Executive, Vincent Pilette, in a joint statement, the deal is equivalent to more than 6.6 billion euros, adding that “is a huge step forward for consumer cyber safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely.”

The United States’ Cyber Security giant, NortonLifeLock is set to buy Czech rival Avast for over $8 billion, in its efforts to create a leading consumer business. The Cyber Security firm announced this on Wednesday after the pandemic fueled online activity.

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According to Norton Chief Executive, Vincent Pilette, in a joint statement, the deal is equivalent to more than 6.6 billion euros, adding that “is a huge step forward for consumer cyber safety and will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely.”

Amid increasing global cyber threat, the tie-up would allow for “enhanced solutions and services, with improved capabilities,” the Chief Executive of London-listed Avast, Ondrej Vlcek, said.

The statement added that more than 500 million users will benefit from the safety offerings of the new group.

Pilette was set to become chief executive of the expanded group, while Vlcek is to join NortonLifeLock as president and become a member of the NortonLifeLock board.

The combined company, to be listed on the Nasdaq, will be dual headquartered in Prague and Tempe, Arizona.