Antivirus company Avast announced this morning that it is in agreement to acquire fellow security company AVG. From the Avast blog:
Under an agreement signed with AVG, Avast will be making an offer ($25 per share or about $1.3 billion in total) to buy all shares of AVG’s stock which AVG’s board is recommending their shareholders accept.
Both companies share a similar foundation and expansion timeline as well as both originating in the Czech Republic. By expanding their customer base, the future company looks to increase their gathered threat data , broaden mobile services, and improved support for SMB customers. Other details are somewhat limited pending the shareholder approval. You can see what information is available on Avast’s press release.
“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. “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 IoT.”