“The Boards of Directors of Avast and NortonLifeLock announced on August 10, 2021 that they had reached an agreement on the terms of Avast’s recommended merger with NortonLifeLock,” Avast recalls of the summer merger agreement.
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“Avast and NortonLifeLock are now pleased to announce that we have received the necessary approval from NortonLifeLock shareholders at the NortonLifeLock Extraordinary General Meeting held in connection with this merger on November 4, 2021,” Avast said.
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Already in August, the CEO of Avast, Ondřej Vlček, announced that the merger should be completed in nine to ten months at the earliest and that the new company will bear a name that has not yet been decided. “The transaction must also go through all regulatory approvals, in a number of countries where companies operate. For this reason, we expect the transaction to close itself sometime in the middle of next year, until then both companies will operate independently, “he said at the time.
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Avast also said that its shareholders will vote on the proposal on November 18 in London. Participation is also possible remotely via video calls. Vlček already warned in the summer that after the merger of the two companies, a company will be created, which will be one of the twenty largest software companies in the world. The current shareholders of Avast will own 14 to 26 percent of the shares in it.
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Avast has been operating on the market since 1988 and its shares are traded on the Prague and London stock exchanges. He is one of the pioneers in the field of computer security. Provides security programs for computers and mobile devices. Its products are used by over 435 million users worldwide, largely free of charge.
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NortonLifeLock now has a market value of around $ 14.5 billion, at the time of the transaction’s announcement it was around $ 16 billion. The company previously operated under the name Symantec.
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