Menu
​AVG Technologies swallowed up by rival security vendor in $1.3 billion acquisition

​AVG Technologies swallowed up by rival security vendor in $1.3 billion acquisition

Rival security vendors combine as market consolidates.

Vince Steckler - CEO, Avast Software

Vince Steckler - CEO, Avast Software

AVG Technologies has been swallowed up by rival security vendor Avast Software, in a $US1.3 billion acquisition that represents further consolidation within the anti-virus software market.

Both companies are viewed as industry pioneers founded in the Czech Republic, expanding internationally before now combining complementary strengths to position Avast for continued growth in the security industry.

The acquisition follows further market M&A activity, with Symantec unveiling plans to acquire Blue Coat Systems for $US4.651 billion, in a move designed to bolster the tech giant’s cyber security portfolio, and fill its vacant CEO slot.

“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,” Avast Software CEO, Vince Steckler, said.

“Combining the strengths of two great tech companies, both founded in the Czech Republic and with a common culture and mission, will put us in a great position to take advantage of the new opportunities ahead, such as security for the enormous growth in the Internet of Things.”

Steckler said Avast is pursuing this acquisition to gain scale, technological depth and geographical breadth so that the new organisation can be in a position to take advantage of emerging growth opportunities in Internet Security as well as organisational efficiencies.

“The technological depth and geographical reach will help Avast serve customers with more advanced security offerings in the core business and new innovations in emerging markets, such as security for IoT devices,” he explained.

Combining Avast’s and AVG’s users, the organisation will have a network of more than 400 million endpoints, of which 160 million are mobile, that act as de facto sensors, providing information about malware to help detect and neutralise new threats as soon as they appear.

“This increase in scale will enable Avast to create more technically advanced personal security and privacy products,” Steckler added.

After being unanimously approved by the Management Board and Supervisory Board of Avast, the transaction is expected to close sometime between September 15, and October 15, 2016, depending on the timing of regulatory review.

“We believe that joining forces with Avast, a private company with significant resources, fully supports our growth objectives and represents the best interests of our stockholders,” AVG Technologies CEO, Gary Kovacs, added.

“Our new scale will allow us to accelerate investments in growing markets and continue to focus on providing comprehensive and simple-to-use solutions for consumers and businesses, alike.

“As the definition of online security continues to shift from being device-centric, to being concerned with devices, data and people, we believe the combined company, with the strengthened value proposition, will emerge as a leader in this growing market.”


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags AVG TechnologiesAvast Software

Featured

Slideshows

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

New Zealanders kick-started EDGE 2018 with a bout of Super Rugby before a dedicated New Zealand session, in front of more than 50 partners, vendors and distributors on Hamilton Island.​

EDGE 2018: Kiwis kick back with Super Rugby before NZ session
EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018 kicked off with a dedicated New Zealand track, highlighting the key customer priorities across the local market, in association with Dell EMC. Delivered through EDGE Research - leveraging Kiwi data through Tech Research Asia - more than 50 partners, vendors and distributors combined during an interactive session to assess the changing spending patterns of the end-user and the subsequent impact to the channel.

EDGE 2018: Kiwis assess key customer priorities through NZ research
Show Comments