The all-cash transaction is expected to broaden NortonLifeLock's international presence and bring a freemium business model into its portfolio.
NortonLifeLock has confirmed plans to acquire German antivirus provider Avira from Investcorp Technology Partners for $360 million in cash, the companies announced today. Investcorp bought Avira in April 2020 for $180 million; this deal essentially doubles the company's value.
Avira provides consumer antivirus products through a "freemium" business model that lets users download security tools for free or pay to upgrade to premium tools. NortonLifeLock will keep the freemium model, officials said in a statement. Avira's free software has a user base of more than 30 million devices, and the firm reportedly has more than 1.5 million paying subscribers.
The deal is also intended to expand NortonLifeLock's international growth into Europe, where Avira already has a strong user base.
Avira CEO Travis Witteveen and CTO Matthias Ollig will join the NortonLifeLock leadership team as part of the acquisition, which is expected to close in the fourth quarter of 2021.
Read more details here.
About the Author(s)
You May Also Like
The fuel in the new AI race: Data
April 23, 2024Securing Code in the Age of AI
April 24, 2024Beyond Spam Filters and Firewalls: Preventing Business Email Compromises in the Modern Enterprise
April 30, 2024Key Findings from the State of AppSec Report 2024
May 7, 2024Is AI Identifying Threats to Your Network?
May 14, 2024
Black Hat USA - August 3-8 - Learn More
August 3, 2024Cybersecurity's Hottest New Technologies: What You Need To Know
March 21, 2024