These days it is all about user experience and the highest possible level of security of personal information. To provide better service and enable further technology development, two giants from the cyber security industry merged with a special deal worth $8.1 billion. European company Avast and their biggest rival from US NortonLifeLock made an agreement whose primary goal is to develop one global consumer cyber security powerhouse. This merger will be third largest on the list of this type of merger within the market.
In first place is Thoma Bravo’s $12.3 billion worth takeover of Proofpoint, in second place is famous Broadcom’s $10,7 billion merges with Symantec’s enterprise business. Merge brought some news to the Avast stockholders, and they will receive cash and shares with a value estimated from $8,1 billion to 8,6 billion. NortonLifeLock was founded in 2019 to develop a cyber safety business that will become an industry leader. Avast is older, dates to 1988, focusing on cyber safety software for small and medium enterprises. This merger will have more than 500 million users and about $280 million of annual gross.
Personal Data Security
Avast had some controversial moments in history concerning their existing and new customers that come in with NortonLifeLock. Due to last year’s shut down of Avast’s marketing technology branch, Jumpshot because of peddling web browsing data. Those web browsing data might get linked to the individual users. Users’ problem lies in the saving and sharing personal data that they use in a web browser. That’s data like bank account information, login data information for business servers, and personal data they use while shopping, gaming, or social media.
In terms of gaming and the high rate of cyber security users using igaming websites like online Roulette or casino, the previous controversy from Avast is typical to concern. Still, with NortonLifeLock third place on the list of the Best Identity Theft Protection Services in 2021, we are sure that Avast will profit in this merge and show users that they are reliable and worth of users trust. The European part of the company underlies the European Gaming and Betting Association (EGBA) that published the Data Protection Code of Conduct for Online Gaming Operators and GDPR. With these documents that the new merger will need to consider, we are sure that they will provide, as EGBA said, ”the highest standards in data protection and GDPR compliance for the online gambling sector”. Cyber security companies need to work closely with the igaming industry to provide the highest level of personal data security.
Avast CEO Ondrej Vicek said that he is sure that company merge will allow them to use their experience and knowledge joined in one team to improve cyber security capabilities in terms of personal data on a global basis. All we know for now about the new company is dual headquartered in Arizona and the Czech Republic. In addition, companies will cut the number of employees from 5000 workers to 4000 within next two years. The new company will list the NASDAQ instead of the London Stock Exchange, where Avast is already taking place. The deal should finalize in 2022.