Avast Software, an industry-leading maker of the most trusted security software in the world, has announced it is to acquire AVG Technologies, a leading provider of software services to secure devices, data and people, for US$1.3 billion.
Both companies have signed an agreement to that effect, and will see Avast purchase all of the outstanding ordinary shares of AVG for US$25.00 per share in cash.
The Management Board and Supervisory Board of both Avast and AVG support and approve the transaction. The offer has been tendered to the AVG shareholders for acceptance.
Once the transaction is finally completed, Avast will gain scale, technological depth and geographical breadth.
This will position it to take advantage of emerging growth opportunities in Internet Security as well as organizational efficiencies.
“We are in a rapidly changing industry, and this acquisition gives us the breadth and technological depth to be the security provider of choice for our current and future customers,” said Vince Steckler, chief executive officer of Avast Software.
Both companies are industry pioneers founded in the Czech Republic in the late 1980s and early 1990s, that expanded internationally in the 2000s, and now will be combining complementary strengths to position Avast for continued growth in the security industry.