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NortonLifeLock buys Avira for $360 million

2020-12-08 17:50 by
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NortonLifeLock today announced an agreement to acquire Avira, a company that provides a consumer-focused portfolio of cybersecurity and privacy solutions with a strong base in Europe and key emerging markets. Avira will be bought from Investcorp for $360 million.

"We strive to bring cyber safety to everyone, and acquiring Avira adds a growing business to our portfolio, accelerates our international growth and expands our go-to-market model with a leading freemium solution," NortonLifeLock CEO Vincent Pilette said in a statement. "Culturally, we are a great match."

NortonLifeLock will benefit from adding the Avira freemium business model to its existing portfolio, as well as the company's 1.5 million paying customers. When the deal is finalized, which is expected in the fourth quarter of the fiscal year 2021, Avira CEO Travis Witteveen and CTO Matthias Ollig will join the NortonLifeLock leadership team.

Avira is a Germany-headquartered, global cybersecurity software solutions firm serving the Consumer and OEM (Original Equipment Manufacturer) end markets. Founded in 1986 by Tjark Auerbach, Avira provides customers with a suite of software security solutions, including anti-malware, threat intelligence and IoT solutions to protect users' online identity, finances, and private data.

Read more -here-

 

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