Mergers, acquisitions, partnerships

NortonLifeLock and Avast merge

The Supervisory Board members are of the opinion that the merger is strategically and financially convincing.

NortonLifeLock and Avast have agreed to merge. The merger is to take the form of a recommended offer by NortonLifeLock for the entire issued and to be issued ordinary share capital of Avast.

Under the terms of the merger, Avast shareholders may receive a combination of cash and newly issued NortonLifeLock shares, with alternative payout options available.

The Boards of Directors of NortonLifeLock and Avast believe that the combination is strategically and financially compelling and represents an attractive opportunity to create a new, industry-leading consumer cybersecurity company that leverages the established brands, technologies and innovations of both groups to deliver benefits to consumers, shareholders and other stakeholders.

The merger will also enhance the combined company's financial profile through scale, long-term growth, cost synergies with reinvestment capabilities and strong cash flow generation supported by a solid balance sheet.

The company is expected to achieve double-digit growth in earnings per share in the first full year after completion of the merger and double-digit sales growth in the long term.